At the time of Vodafone-Idea stewardship, 13,000 maids will be unemployed

New delhi date. November 14, 2019, Thursday

Telecom company Vodafone Idea, which was crushed under the heavy debt burden, was found to be taking over its executive committee. If this were to happen, at least 13,520 employees would lose jobs and other telecom companies were feared to raise call rates due to reduced market competition. Moreover, the government's efforts to increase foreign capital investment are likely to reach Jaffa.

The company had a debt of Rs 39,000 crore after the Supreme Court ruled on adjusted gross revenue. The company is already under $ 14 billion in debt. At present, the company has only $ 3 billion in cash. Under these circumstances, if the central government does not support it and the company takes over its staff, 13,520 employees will have a chance to sit down and, as a result of this, competition in the market, other telecom companies are likely to raise call rates. On the other hand, the government's efforts to increase foreign capital investment are also believed to be a break.

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In the telecom industry, one lakh people have lost their jobs. Before now there were eight major companies in the telecom sector. Only three companies survive today. The rest of the companies took up their own business.

Other recommendations made by the secretariat committee to relieve the telecom industry also included the recommendation for maintaining a competitive environment in the market.