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25 years of telecom: Boon for India's business tycoons, bane for MNCs

Big business houses such as the Tatas, Anil Ambani, multinationals like Malaysian tycoon T Ananda Krishna of Maxis failed to create viable businesses

telecom, trai, mobile, smarphone, tech, 4g, 5g, tower

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While big businesses lost money, industrialists such as the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh, the UK-based Hindujas hit the jackpot by investing at the right time

Surajeet Das Gupta New Delhi

6 min read Last Updated : Jul 31 2020 | 6:06 AM IST

It was the best of times and the worst of times in telecom for business tycoons and multinationals. On one side were the smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh, the UK-based Hindujas, and Spice Group promoter B K Modi, who hit the jackpot by first investing and then moving out at the right time, from the mobile telecom services sweepstakes over the past 25 years.

On the other were the big business houses such as the Tatas, Anil Ambani, multinationals like Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel),

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