Banking sector support, ease of doing biz policy drives to make India $1 trn digital economy: Kumar Birla

Aditya Birla Group chairman Kumar Mangalam Birla called on the government to ring in fresh policies to improve ease of doing business, which along with banking sector support, would complement the recent telecom sector reforms and catapult the country into a $1 trillion digital services economy.
“The recent bold telecom reforms undertaken by the government is testament to Prime Minister Narendra Modi’s visionary leadership, and further policy measures to ensure ease of doing business along with support from the banking sector, will transform India into a $1 trillion digital services economy,” Birla said at the India Mobile Congress virtual event Wednesday.

He added that Vodafone Idea – the telecom JV co-promoted by UK’s Vodafone Plc and India’s Aditya Birla Group – remains a “committed” partner to transform India into a $1 trillion digital economy.

The mobile industry, Birla said, is “the growth engine” of the Indian economy, and accordingly, needs to be robust, especially as India prepares to go 5G, since the upcoming deployments of fast wireless broadband networks will entail continuous investments from the large telcos.

The Aditya Birla Group chairman said the telecom industry has attracted the highest FDI inflows in India in the past two decades and “telecom tariffs in the country remained the lowest in the world”.