DELHI, India -- BARCELONA: Vodafone CEO Vittorio Colao on Monday termed India as a complicated and a complex country for doing business and said spectrum prices are way too high, limiting the investment capacity for expanding network. Colao said efforts should be made to make it easy for doing business in India as the country holds great potential for foreign investors. However, tax, regulatory and legal issues make it difficult for the company to carry out its affairs.
"The only problem in India is the cost of conducting business there in terms of spectrum, tax challenges, complexities... Everything is more complicated in India, there are different authorizations. Every time I go there, I find out that something is not possible because you need a special thing or there is a court case, and somebody has gone against you."
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Colao also said that spectrum prices are too high, and mainly due to lack of adequate quantity for sale. Spectrum auctions, from which the government hopes to fetch over Rs 1 lakh crore, will begin later this week.
"India needs as much spectrum as possible. Give it and allow as much rural digitization as possible... (But) what they (government) seem to be doing is slicing it, and giving it here and there," he said. "... this pushes up the price, but does not favour investment, and does not favour return. And if you don't have return, you don't do more investment."
Source: timesofindia.indiatimes.com
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