“It Is Remarkable How Far We Have Come In Connecting People, Machines And Devices,” Says Kumar Mangalam Birla

Industrialist Kumar Mangalam Birla started off his speech by stating that India is at the cusp of a technological tectonic shift. Speaking at the 8th India Mobile Congress, the chairman of the Aditya Birla Group emphasized the importance of Vodafone Idea’s recent FPO which enabled it to secure a strong footing in the telecom industry. The fundraise allowed one of the country’s premier telecommunication companies to invest a staggering USD 3.6 billion in equipment orders from Ericsson and Nokia.

The FPO played a huge role in pumping life into Vodafone Idea. The Rs 18,000 FPO was the largest of its kind in India and was met with overwhelming enthusiasm, being oversubscribed seven times overall and nineteen times among institutional investors, mentioned an optimistic Kumar Mangalam Birla. The demand culminated in a total bid of around Rs 93,500 crore

“One of the most pressing issues being addressed by the government, regulator and industry in the past year is spam control and fraud prevention,” added Birla. He stated that the networks have grown so have the risks to the public especially from phishing schemes, fraudulent calls, and spam messages.

Birla applauded the government’s efforts in recognizing the importance of digital connectivity and introducing reforms over the years and pushing the country towards being a more empowered and inclusive digital nation. He praised the administration’s work in expanding digital infra and accelerating digital adoption for people and businesses. Birla pin pointed the positive impact of digital adoption on MSMEs as they are now able to break traditional barriers and enter new markets.

The industry captain took the audience on a stroll down the memory lane and reiterated the the instance when PM Modi termed MSMEs as Maximum Support to Micro Small and Medium Enterprises. He vowed that Vodafone Idea fully supports this movement of supporting Indian MSMEs by promoting digital transformation. Birla brought up 5G, IoT, artificial intelligence and cloud services and how VI is leveraging these technologies to help MSMEs assess their digital readiness, identify areas of improvement and adopt the necessary digital solutions to become future ready corporations. Birla took the opportunity to state that since the launch of the VI platform, over 1.6 lakh MSMEs have used the said platform.

“Robust connectivity is also transforming how we live and how we work as demonstrated by solutions showcased by VI at IMC this year,” said an enthused Kumar Mangalam Birla. He emphasized the importance of real time high speed connectivity as well. “Will enable safety and improved efficiencies in critical industries like mining, construction and industry automation,” added Birla.

“With continued support from the government, I’m confident that we will do our part to realise the Prime Minister’s Digital India Destiny” said Birla as he concluded his address.

The India telecommunications market size is estimated at USD 48.61 billion in 2024, and is expected to reach a value of USD 76.16 billion by 2029, growing at a CAGR of 9.40 per cent during the forecast period (2024-2029). As per IBEF data, India is the second largest telecom market in the world.

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Deep Majumdar

BW Reporters is a Senior Correspondent at BW Businessworld who writes on consumer technology