Vodafone to invest more in India: CEO
Vodafone, which operates in India with a joint venture with Essar Group, Today said it will invest more in India as it sees more opportunities in the country.business Updated: Jan 19, 2009 16:12 IST
The world's largest mobile operator by revenue, Vodafone, which operates in India with a joint venture with Essar Group, On Monday said it will invest more in India as it sees more opportunities in the country.
"We see eight to nine million mobile subscribers addition in New Delhi. This means India needs more investment. We will continue to invest more in New Delhi as there are opportunities here," Vodafone Chief Executive Officer Vittorio Colao said in New Delhi at CII conference.
The company in 2007 had announced an investment of two billion dollars.
The CEO further said India is a jewel in our international market expansion. India is where the growth is going to happen.
Vodafone, which was earlier a miner stakeholder in Bharti, later exited the venture and acquired controlling stake in the Hong Kong-based Hutchison in a 11.2-billion deal last year to take control of the venture-- Vodafone-Essar --which is the second largest GSM operator in India in terms of subscribers.