Bharti Airtel welcomes Government of India’s
seminal reforms for the telecom industry

New Delhi, September 15, 2021: Bharti Airtel today welcomed the path breaking policy directions and interventions announced by the Government of India to support the telecom industry that has been battered by unprecedented stress, high debt and low return on investments.

The reform package heralds a new dawn for the Indian telecom industry and will catalyse explosive growth of this vital sector. More importantly, it paves the way for a sustainable three private plus one state owned telecom operator structure to serve a large market like India.

These bold initiatives are reminiscent of the decisions taken by the NDA Government in 1999 when the telecom sector was at a crossroads which resulted in an era of affordable mobile services for all Indians.

Sunil Bharti Mittal, Chairman, Bharti Airtel said: “We congratulate and thank the Government, who under the decisive leadership of the Hon’ble Prime Minister Shri Narendra Modi, has undertaken these seminal reforms to lift an industry that’s at the core of his Digital India vision. The latest reforms ensure that the industry is able to invest fearlessly and support India’s digital ambitions. We also compliment the Hon’ble Minister of Communications and the Hon’ble Finance Minister for their leadership and support.”

“Bharti Airtel is fully committed to respond to the call by the Hon’ble Prime Minister to invest in and accelerate India’s growth. What lies ahead is a once in a lifetime opportunity to build the digital infrastructure that is a catalyst for the digital aspirations of over one billion Indians.” added Sunil Bharti Mittal.

India’s digital economy has entered a phase of exponential growth with digital solutions contributing to fast and inclusive growth by bringing more and more people online. India has the potential to become one of the biggest digital ecosystems in the world as the country moves towards achieving the USD 5 trillion GDP goal set by the Government.

Next generation telecom networks with technologies such as 5G will be the spine that will support India’s digital ecosystem and spur economic growth. A healthy telecom industry will also spur innovation and investments in allied industries like network equipment, smartphones, data centers, etc. and help create large number of jobs and contribute to India’s Atmanirbhar vision.

Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel added “For over two and a half decades, Bharti Airtel has pioneered India’s telecom revolution. These fresh reforms will further boost our efforts to invest in this exciting digital future and enable us to be one of the leading players in India’s digital economy. More needs to be done, however, towards a sustainable tariff regime to ensure the industry gets a fair return. This will in turn allow it continue investing in new technologies and innovation to bring world-class services to customers.”

About Airtel

Headquartered in India, Airtel is a global communications solutions provider with over 474 Mn customers in 18 countries across South Asia and Africa. The company ranks amongst the top three mobile operators globally and its networks cover over two billion people. Airtel is India’s largest integrated communications solutions provider and the second largest mobile operator in Africa. Airtel’s retail portfolio includes high speed 4G/4.5G mobile broadband, Airtel Xstream Fiber that promises speeds up to 1 Gbps with convergence across linear and on-demand entertainment, streaming services spanning music and video, digital payments and financial services. For enterprise customers, Airtel offers a gamut of solutions that includes secure connectivity, cloud and data centre services, cyber security, IoT, Ad Tech and cloud based communication. For more details visit www.airtel.com

Disclaimer: Bharti Airtel Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a rights issue of its Equity Shares, and intends to file a letter of offer with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited.

These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. Any Equity Shares mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the “Securities Act”).

The Equity Shares may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States.