Turning profitable for the first time after entering the country, Vodafone India said mobile tariffs need to go up as input costs are rising, but smaller operators offering cheaper rates are not making it easy.
We would like to see that the industry is not seen as a milking cow for the government only.
Marten Pieters
CEO
Vodafone India
The historic win by Narendra Modi-led NDA has not only Indians, but also foreign players like Vodafone looking forward to better days ahead. Speaking to CNBC-TV18's Malvika Jain, Vodafone India Managing Director & CEO Marten Pieters said he believes the country is ready for a change. And although investment climate in India has not changed yet, he said, FIIs will be happy to come back if tax stability returns.
Pieters said companies cannot work if the government changes rules of the game every year. He believes that predictability, continuous regulations are a must to do well in any business. However, he did add that the regulatory environment in the country has stabilised, although some issues need to be resolved. "India's tax situation has been aggressive over the last few years," he told the channel.
Also Read: Vodafone India FY14 adjusted operating profit at Rs 3,496cr
Vodafone got a favourable ruling from the Supreme Court on the Rs 11,000-crore tax demand made by the Indian government, but the case was quickly reopened by the government by way of a retrospective amendment in the budget.
Pieters said telecos would like to see less money going the government and more towards investments. He said the telecom major has paid the government Rs 64,000 crore over the last five years.
Turning profitable for the first time after entering the country, Vodafone India said mobile tariffs need to go up as input costs are rising, but smaller operators offering cheaper rates are not making it easy. Vodafone believes broadband is the need of the hour, and India needs more spectrum to effectively push the business. "We must work with the government to get access to more specutrum and hike internet penetration," he said.
Commenting on telecos' IPO plans, Pieters said it will bring the issue to front burner once the next spectrum auction is done. Vodafone had postponed its IPO as it did not know the amount to be paid in the auction. "We would like to get the tax case resolved before we do an IPO," Pieters said.
Next page: Full interview transcript
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