We are certainly not seeking grants and aids but are looking for a respectable and honourable solution to the issues that are pulling down the sector. Once generating huge employment and returns for all the stakeholders including consumers and the exchequer, the sector today is staring at an abyss.<\/p>
We are only seeking a clearly defined road map for growth from the government bereft of the evils of ambiguity, double taxation and distorted perceptions in the interest of the larger national cause. A roadmap that is framed after due consultation and consideration of recommendations of the regulator and fact check on what is causing the ailment, and wisdom of the policy planners and decision-makers to put their thinking cap so that the telecom industry goes back on the rails.<\/p>
Where Telecom Industry Stands Today<\/strong><\/p> Considered as a lucrative sector that had about 14 robust players, the telecom industry today is limited to just three private sector companies even as PSUs have hit their nadir. Further, the returns on investment for the private sector has nosedived from a sturdy 14 percent to an abysmal 1-2 percent. While consumers are getting the lowest possible tariffs for the best of the services, the industry players are akin to the goose that once laid the golden eggs but are struggling today to stay afloat. In such a scenario, the possible domination of very few players could make the consumers vulnerable.<\/p> The market capitalisation or the wealth creation for stakeholders has come down steeply while promoters have cut their shareholding in order to support growth. For instance, in matter of less than two years, the combined market capitalisation for the listed players has tumbled to Rs 2.03 lakh crore on July 23, 2019 from Rs 2.59 lakh crore rupees on December 29, 2017. What Ails the Sector?<\/strong><\/p> The double whammy that has hit the sector hardest, particularly after the huge investments entailed in reshaping for 4G rollout, is the duplicity of levies. While the structure was ostensibly changed from erstwhile revenue sharing to upfront payment for spectrum allocation through the bidding route, the continued revenue sharing norms that remain high at about 30% is badly hurting the industry. Worse, the specter of 5G auction that is presumed to happen at very high prices is already giving the industry sleepless nights. Consider this - the estimated total levy on the Indian telecom sector ranges from 29% to 32% which is one of the highest while China, on the other hand, has just 11% as total levy.<\/p> In order to support sector\u2019s growth and ensure that India is on par with the rest of the world in terms of mobile technology, the players have also taken huge debt on their books. In just 9 years, this debt has ballooned to Rs 7.7 lakh crore rupees in FY18 from INR 0.8 lakh crore rupees in FY09. As a result, interest payout as percentage of EBITDA has steadily climbed to nearly 71% by third quarter of FY19.<\/p> Prescription<\/strong><\/p> We would not like to propagate subsidies for the industry but only a reduction of taxes and levies for one of the most heavily taxed industries in India. Presently an \u201cAngel\u201d industry is being taxed like a \u201cSin\u201d industry. But it certainly is of strong view that a pragmatic and rationalistic levy policy be outlined and make the ecosystem conducive for growth. We do not say that listen to us as we seek cut in revenue share and reasonable spectrum fee. Market regulator TRAI conducted exhaustive consultation before coming out with its recommendations and these inputs are no different. Besides TRAI, a number of institutions like RBI, and leading banks like SBI, PNB, Axis, HDFC, etc. have recognised the fact that the assets of the telecom sector are stressed. In February 2019 Morgan Stanley and Moodys downgraded India's telecom sector while reputed Independent think tanks such as ICRIER have noted the declining revenues and profitability of the sector.<\/p> Should the inputs of such institutions of repute not be given due consideration before finalising the roadmap? As an important stakeholder, the government should also look at the growth parameters that must be good enough for investors and stakeholders.<\/p> After all, the next technology explosion for giving consumers the fruits of development and advancement either through existing 4G or upcoming 5G should lead to both reasonable tariffs and keeping the sector lucrative enough to attract investments. Well begun is half done! We are thus pinning our hopes on our very first meeting with the Honourable Telecom Minister later this week.<\/p>","blog_img":"","featured":0,"status":"Y","seo_title":"Telecom sector on ventilator, gasping for breath","seo_url":"telecom-sector-on-ventilator-gasping-for-breath","cms_link":"telecom-sector-on-ventilator-gasping-for-breath\/3692","updated_at":"2019-07-25 12:45:06","time":"2019-07-25 11:55:56","authors":[{"author_name":"Rajan S Mathews","author_description":"Director General, COAI","author_designation":"Director General","author_company":"COAI","profile_pic":"retail_files\/author_1485515109_temp.jpg"}],"tags":[],"url_seo":"telecom-sector-on-ventilator-gasping-for-breath"}">
市值或为利益相关者创造财富急剧下降而发起人削减他们的股份来支持经济增长。例如,在不到两年的时间,上市的市值总和的球员已经跌至2.03十万的卢比7月23日,2019年12月29日从2.59十万的卢比卢比2017。 经济的闪亮的手臂和印度的增长引擎——今天的电信行业是气不接下气。迫切需要的是适当的诊断,对处方和立即治疗。毕竟,任何不利影响最重要的部门肯定会对经济的阴影,我们的总理莫迪先生已经承诺在未来几年增长到五万亿美元。 我们绝不是寻求拨款和艾滋病,但寻找一个体面的和体面的解决问题,向下拉。一旦产生巨大的就业并返回所有的利益相关者包括消费者和大臣今天的部门是盯着深渊。 我们只是寻求一个明确定义的发展路线图从政府丧失了模棱两可的罪恶,双重征税和扭曲的看法的利益更大的国家的原因。路线图框架商量后,考虑建议监管机构和事实的检查是什么导致疾病,和智慧的政策规划者和决策者把他们的思考,使电信行业回到正常进行。 今天电信行业站在哪里 视为有利可图的部门有14个健壮的球员,今天的电信行业是局限于三个私营企业即使电源已触及最低点。此外,私营部门的投资回报率从一个坚固的14%骤降到一个糟糕透顶的1 - 2百分比。虽然消费者得到尽可能低的关税,最好的服务,在业内是类似于曾经奠定了金蛋的鹅,但是今天是艰难地维持着。在这种情况下,很少有球员的统治可能会使消费者脆弱。 市值或为利益相关者创造财富急剧下降而发起人削减他们的股份来支持经济增长。例如,在不到两年的时间,上市的市值总和的球员已经跌至2.03十万的卢比7月23日,2019年12月29日从2.59十万的卢比卢比2017。 这个行业到底出了什么问题? 已达到最大的部门的双重打击,特别是在4 g推出的巨大投资方式重塑,是征税的表里不一。而结构表面上从昔日的收入共享通过招标前期支付频谱分配路线,居高不下的持续收入共享规范严重损害了行业30%左右。更糟糕的是,5 g拍卖的幽灵,假定发生在非常高的价格已经给该行业不眠之夜。考虑这个,估计总印度电信业征税范围从29%到32%,中国最高的国家之一,另一方面,只有11%征收。 为了支持部门的增长和确保印度与世界其他国家在移动技术方面,球员们也被巨额债务账上。在短短9年,这债务飙升至7.7十万的卢比卢比在FY18 INR 0.8 09财年的十万的卢比。因此,利息支出的百分比EBITDA稳步攀升至近FY19第三季度的71%。 处方 我们不愿意传播行业只有减少补贴的捐税在印度征税最严重的行业之一。目前的“天使”产业被征税像“罪恶”的行业。但它确实是强有力的观点,务实和理性主义的税收政策是概述,使生态系统有助于经济增长。我们并不是说听我们寻求削减收入共享和合理的频谱费。市场监管机构火车进行了详尽的磋商之前推出其建议和这些输入并无不同。除了火车,许多央行等机构,主要银行和印度国家银行一样,PNB,轴,HDFC等承认这一事实强调电信部门的资产。2019年2月,摩根士丹利(Morgan Stanley)和穆迪下调印度的电信业等著名独立智库-注意到该行业的收入和盈利能力下降。 此类机构的输入名声不应该考虑之前敲定路线图?作为一个重要的利益相关者,政府也应该看看生长参数,对投资者和利益相关者必须足够好了。 毕竟,给消费者的下一个技术爆炸发展的成果和进步通过现有的4 g或即将到来的5 g应该导致合理的关税和保持部门利润丰厚的足以吸引投资。良好的开端是成功的一半!我们因此寄希望于我们第一次会议与尊敬的电信部长本周晚些时候。
While the contribution from the sector has declined in recent years, the sector still contributes more than INR 100 billion to the government every year. In fact, the telecom sector is itself is one of the largest tax-paying sector and contributes more than 100 billion rupees to the Exchequer per year in the form of licence fee and spectrum usage charges. Add to it, private telecom players have invested over Rs 10.44 lakh crore rupees in setting up world-class mobile networks over the last 20 years. Further, the industry paid around Rs 76,000 crore rupees in spectrum auctions for upgrading from 2G to 3G & 4G services. Its cumulative payout at spectrum auctions stands at a staggering INR 3.68 lakh crore since 2010. The list of ills impacting the sector could be stretched endlessly but the above description aptly describes the industry\u2019s health.<\/p>
电信业在通风机,喘着气
尽管该行业的贡献下降近年来,该行业仍超过1000亿印度卢比有助于政府每年。事实上,电信部门本身就是最大的纳税部门和贡献超过1000亿卢比大臣每年的执照费和频谱使用费用。增加,投资的民营电信玩家超过十万的10.44卢比卢比在建立世界级的移动网络在过去的20年。此外,行业支付大约76000卢比卢比在频谱拍卖升级从2 g到3 g和4 g服务。其累计支付3.68频谱拍卖站在惊人的INR十万的自2010年以来,卢比。疾病影响部门的名单可以无休止地拉伸但上面的描述恰当地描述了行业的健康。
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