Vodafone planning to invest USD 2 billion in India

Vodafone planning to invest USD 2 billion in India

UK based mobile industry giant Vodafone has said that they aim to further boost their investment in the Indian market where they have just acquired the local player Hutch.

The company has announced that they plan to invest $2 billion on its Indian operations in the very first year of its operation here.

Vodafone CEO Arun Sarin wrote in a letter to the Indian Finance Minister P. Chidambaram: “Following your approval, we have closed the transaction with Hutchison, and Vodafone now has the management control of Hutch Essar.”

Hutch Essar would now be renamed to Vodafone Essar. The mobile brand would be renamed Vodafone from the current name Hutch.

Vodafone is planning to launch some low cost mobile handsets in the market to boost their growth where Airtel currently dominates the GSM mobile market.

Incidentally Vodafone is also going to work with Bharti (owners of Airtel) on a network-sharing arrangement as they aim to accelerate rural coverage in India.