India has imported mobile phone components worth more than $1 billion from Vietnam — with which India has a free trade agreement (FTA) —in the first half of this fiscal alone, compared to $800 million in the whole of 2018-19 and just over $600 million in FY18, an industry association of companies making handset in India has informed the government.
The Chinese smartphone maker is testing 5G capabilities at its R&D centre in Hyderabad.
The Mukesh Ambani-owned telco yesterday unveiled revised tariffs, which were as much as 40% costlier.
The industry’s move to raise tariffs will ultimately benefit the customer and the government, COAI said, adding that revenue generated from higher plans will be ploughed back into improving customer experience.
The primary aim of private placement before tapping global debt markets; firm also looking at taking advantage of negative rates in Europe. The company is in talks with at least half a dozen foreign banks including BNP, Citibank, HSBC, Standard Chartered, Bank of America and JP Morgan.
The apex court in its order of October 24 had said that all revenue belonging to a telecom licensee — not just revenue from telecom services — should be accounted as gross revenue, for calculating AGR. License holders pay 8% of AGR as license fee to the government.
The Sunil Mittal-led telco filed an application in the apex court earlier this week seeking modification of the court’s order of October 24 to permit Airtel and the government to ascertain the amount to be paid and “a mutually acceptable basis for the discharge of the same” over an agreed period of time.
A 10% increase in realisations from subscribers may yield about Rs 35,000 crore in revenue over three years.
While India has appealed against the ruling before WTO’s Appellate Body last week, MEIS is set to be replaced with Remission of Duties or Taxes on Export Products (RoDTEP) from January 1, 2020, as announced by the finance ministry last month.
The official at the power transmission provider said the Supreme Court order did not apply to non-telecom companies like PGCIL and therefore it would stand by its earlier assessment of licence fee. The official said PGCIL would not make any further payment to the DoT, and added that it had already paid Rs 59 crore as license fee.
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