Birla confident of VIL turnaround; fundraise, capex cycle bolster telco

Birla said he is of the firm belief that VIL’s turnaround is around the corner. | File Photo: PTI

“With the continued support of the government, I am confident that we will do our part to realise the Prime Minister’s digital India destiny. I am a firm believer in the transformative power of India’s telecom sector and I see it as a bridge to a more connected, empowered and prosperous India,” Birla said.

It is pertinent to mention that promoters’ shareholding in VIL stands at 37.2 per cent (Aditya Birla Group and Vodafone) while shareholding of the government is 23.1 per cent.

Birla further said that VIL’s fundraise has enabled the company to kick-start its capex cycle.

“Vodafone Idea has already announced the next phase of capex worth USD 3.6 billion with three global partners, Nokia, Ericsson and Samsung. These are all key steps that place VIL on a more secure footing and ensure that the company remains dynamic and competitive,” he said.

Later, speaking to reporters Birla said he is of the firm belief that VIL’s turnaround is around the corner.

“Not at all…We don’t believe it is impossible in fact I would say very confidently that it is around the corner, and we have been written off several times in the past and it is about time we shed that impression about the company,” he said when asked about some critics’ perceptions that a turnaround could be difficult for the company.

In his address at the event, Birla said one of the most pressing issues being addressed by the government, regulator and industry in the past year is spam control and fraud protection.

“As networks have grown, we have a potential risk to the public, especially from phishing schemes, fraudulent calls and spam messages. These undermine public confidence in communication systems and also put people’s personal and financial security at risk,” he said.

Birla said that VIL, in collaboration with the government and regulatory bodies, is making significant strides in combating this menace.

“Vodafone Idea is committed to bringing new and innovative solutions that will fundamentally address spam and fraud at the very core. Public awareness campaigns too are helping to educate users about how to identify and avoid spams,” he said.

Lauding the government for its unwavering focus on expanding digital infrastructure and accelerating digital adoption for people and businesses, Birla said the digital transformation is now moving beyond just the large businesses to MSMEs. This is enabling MSMEs to break traditional barriers and enter new markets.

“With the focus of technologies like 5G, IoT, AI and cloud services, the ‘VI Business Ready for Next’ program is helping MSMEs assess their digital readiness, identify areas for improvement and adopt necessary digital solutions to become future ready corporations,” he said.

Since its launch in June 2022, over 1.6 lakh MSMEs have used the VI platform, he said asserting that thriving digital ecosystems can be created through the telecom platforms, which can in turn empower MSMEs to drive India’s economic growth.

“Robust connectivity is also transforming how we live and how we work as demonstrated by solutions showcased by VIL at India Mobile Congress this year,” he said.

High speed networks are enabling use of telemedicine, he said citing example of how technology is allowing medical professionals to diagnose and treat patients virtually in remote locations – bridging the gap between urban and rural healthcare.

First Published: Oct 15 2024 | 7:59 PM IST