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Vodafone India has said the mobile telecom industry has reached a point where annual tariff increases are needed to sustain itself. "We have had declining tariffs for 18 years; this cannot be sustained forever. We believe the point has come where we will have to increase our tariffs every year, depending on cost levels," Vodafone India managing director and chief executive officer Marten Pieters told PTI.
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He said payments for spectrum in the just-concluded auction will be funded by debt and to pay for the loans, either tariff need to go up or service levels and investments have to be cut back. Bharti Airtel, Vodafone and Idea Cellular, the three biggest mobile service providers in the country, and Reliance Jio were among eight companies that bid a combined Rs 61,162 crore for spectrum in the 900 MHz and 1800 MHz bands offered by the government during a 10-day auction that ended on February 13.
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"The industry has not yet recovered from the excesses of the 2010 auction and this auction, combined with others expected in the next couple of years, will worsen the industry's health further," Pieters added.
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The value of the spectrum at this month's sale was Rs 47,933.40 crore at the reserve price. Companies can pay part of the amount upfront and the rest in instalments.
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"If you look across the world, spectrum in India is expensive: we pay a lot per MHz in an auction and then 5 per cent of revenue in the form of spectrum usage charges. This will invariably have consequences," Pieters said.
In This Pic : Vodafone tariffs likely to go up
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