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Vodafone to Invest $6Billion in Indian Expansion

Date: 1/22/2008 1:33:33 PM

UKbased wireless giant, Vodafone Group, has announced plans to invest $6 billion over the next three years on expanding its presence in India, by increasing network coverage, improving service quality, and launching a range of new services.

“We shall be investing $2 billion annually for the next three years on our Indian operations,” said Vodafone CEO, Arun Sarin, on Monday. “We have set a target of reaching 100 million subscriber base from the current level of 40 million.”

On the company’s ongoing effort to acquire radio spectrum in India, Sarin said that “we hope the issue will be resolved at the earliest … we need more spectrum as the spectrum and the capital expenditure go hand in hand.”

“We have presented our views to the Indian government. We are very positive about the government,” he continued, noting that “we have received spectrum ourselves, in six out of seven circles… so that we can build a national footprint here.”

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