Clearing his stand over falling revenues of the telecom sector, the Telecom Minister Manoj Sinha said that Government will intervene "at the right time in a right manner".
He said, "the Government is aware and concerned about the sector, we will intervene at the right time in a right manner, we have also set up an inter-ministerial committee to look into the financial woes of the telecom sector." Added that the industry has faced same situation earlier in 2003.
Sinha further added that the market is very big and which is transforming into data-centric from voice centric.
The Minister has also advised the telecom players to talk to the banks about their borrowings, and if any restructuring could be done. As banks has recently raised an alert after the loan to the sector crossed Rs 8 lakh crore.
Meanwhile, Sinha launched the India Mobile Congress 2017 (IMC 2017), the country first and biggest ever, platform to bring together all stakeholders from Telecom, Internet & Mobility ecosystem along with ICT players, app developers, innovators, and start-ups.
The three-day IMC will be held on 27-29 September 2017, at Pragati Maidan, New Delhi and will see the participation of government bodies, Telecom Service Providers (TSPs), handset manufacturers, Internet giants, ISPs, Global technology players, AI & VR companies, Mobility leaders, Academia, Start-ups and app providers.
While announcing the schedule of the event and releasing its logo, Sinha said, "The India Mobile Congress will be the biggest event of the telecom industry and it will bring together all stakeholders from the industry and government on a common platform. It will be an exciting opportunity for all involved to explore and achieve new heights in the world of Information and Communication Technology. It is a proud moment for all of us and I am sure no stone will be left unturned to ensure the success of this mega event. The government of India congratulates COAI, K and D Communications Limited and the industry and assures its full support for the event. This is a huge step forward towards realizing the Hon. Prime Minister vision of a fully connected and digitally empowered India."
India Mobile Congress is expected to see the participation of telecom giants like Huawei, Ericsson, Nokia, as well as telecom operators like Bharti Airtel, Vodafone and Idea Cellular and it is expected to draw 5,000 paid participants and 800 exhibitors.
The countries like the US, the UK, Sweden, Finland, Germany, Korea, the Philippines, Bhutan and Japan have evinced interest in participating and creating awareness around the upcoming event, COAI director general Rajan Mathews said