The CEO of Vodafone Group Plc., Mr. Arun Sarin called on the Prime Minister, Dr Manmohan Singh, along with Sunil Mittal, Chairman and Group Managing Director, Bharati Enterprises. Mr. Sarin informed the Prime Minister that his company intends to invest US $ 1.5 billion towards acquiring a stake in Bharati Telecom ventures. This will be the single largest investment in India in recent weeks.
Mr. Sarin gave an overview of the world telecom scenario, in particular the
socio-economic impact of the mobile telephony in the macroeconomics of the
country. He informed the Prime Minister that together with Bharati they
intend to extend coverage of mobile services to a much greater fraction of
the population, including the remote rural areas.
The Prime Minister welcomed Vodofone's investment in India, and said India would like to see a quantum jump in FDI in all sectors.
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YSR/DS/HK
(Release ID :12997)