Airtel commits Rs 1 lakh crore investment in tech in 5 yrs

Telecom major Bharti Airtel today committed to invest more than Rs 1 lakh crore or about $16 billion in next five years in technology space.

"We will make a very meaningful contribution to your initiative of Digital India. We commit to spend in excess of Rs 100 thousand crore (about $16 billion) over next five years," Bharti Enterprises Chairman Sunil Bharti Mittal said while speaking at the launch of Digital India week here.

He added that the amount will be spent to build further and deeper infrastructure like taking 4G connectivity to the masses, e-health and taking e-education to every village.

The company will also collaborate with various manufacturers around the world to start manufacturing in the country to provide electronic products at the most affordable rates and reduce the burden of electronics import in the country.

Bharti Airtel has already lined up an investment of $3 billion, mostly for Indian and South Asian businesses, in this financial year.

"We are product of Digital India in the early days right from 1983-84 and I have seen what power of technology has done to the country and what it can do in future.

"A lot has been done. Most of the country is covered with radio signal. Most of the people have telecom connectivity," Mittal said.

He added that the government's vision to deliver an array of services under e-governance, e-health and education in the absence of hard or physical infrastructure in the country can be delivered through digital initiatives only.

"We at Airtel are fully committed to stand behind this vision. A company which has pride to be only Indian company to be the third-largest mobile company in the world. We will make very meaningful contribution to the initiative of Digital India," Mittal said.

Airtel has become the world's third-largest mobile operator with 303 million subscribers.