<div>Top mobile carrier Bharti Airtel has received financing commitments of up to $2.5 billion from top Chinese banks as it tries to invest in the growth of data networks across its global operations.</div><div> </div><div>Bharti Airtel, which operates in 20 countries across Asia and Africa, said on Saturday that China Development Bank had committed a $2 billion credit line, while Industrial and Commercial Bank of China has offered a $500 million credit line.</div><div> </div><div>The company signed the term sheets for the financing options in the presence of Prime Minister Narendra Modi, who is on an official visit to China.</div><div> </div><div>The transaction needs approvals, including from India's central bank, the Reserve Bank of India, it said in a statement.</div><div> </div><div>With a majority of the country still using more basic "feature phones", India's smartphone market is expected to grow at about 36 per cent a year over the next five years, according to consulting firm Zinnov, making the higher margin mobile data business a potentially lucrative bet for network operators.</div><div> </div><div>(Reuters)</div>
_20241104184101_original_image_40.webp)