Vodafone not reducing investment in India: CEO

Kolkata, April 17 (IANS) Despite uncertainty in the telecom sector over spectrum and unresolved tax issues, Vodafone’s India unit, the country’s second largest mobile service provider, Monday said it has not changed its investment plans in India.

“We have a long-term commitment to the country. We cannot walk away from networks. We are not reducing investment,” Vodafone India managing director and CEO Marten Pieters told reporters here.

Pieters said the firm would “keep investing” about $1 billion every year in the country.

“We have not changed our investment plan. We are very committed to the country. And we will keep investing,” he added.

Vodafone Group, which entered India six years ago, invested Rs.81,000 crore in acquisition and another Rs.55,000 crore in capital expenditure.

On rolling out of 4G services, Pieters said it was too early for the company to make the move.

“We will go into 4G for sure. But we have taken the position that it is too early now. We need far more distribution of laptops, tablets and smartphones before that (4G) really takes off,” he added.

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