New Delhi: Bharti Airtel Ltd and Vodafone Idea Ltd will next month raise prices of their services for the first time in more than a decade, the two companies said in separate statements on Monday. The increase comes after a prolonged period of hypercompetition in India, where telecom tariffs are the cheapest in the world. The decisions come amid reports that the government plans to introduce a floor price for telecom tariffs to prevent predatory pricing. Trai has so far let telecom tariffs to be determined by market forces of demand and supply. Following the verdict, Nick Read, chief executive officer of Vodafone Group Plc, the joint venture partner in Vodafone Idea, said, “If you don’t get the remedies being suggested, the situation is critical."

Source: Mint November 18, 2019 14:40 UTC