Vodafone will close business in Indian market, know what is the matter.

Vodafone will close business in Indian market, know what is the matter.

Vodafone has said that there are many doubts about whether it will continue its business in India. The company says that the government has increased taxes and charges so much that it is difficult to stay in business. The company has lost 1.9 billion euros in the first half from the court's ruling on license fees.

Vodafone Chief Executive Nick Reid said, Vodafone in India formed a joint venture with Idea in 2018. The situation here has been challenging for a long time. Despite all this, Vodafone has a share of 30 per cent market share.

Reid said on Tuesday, "These regulations have increased the burden on the company. The first Supreme Court verdict and above all the tax is causing huge losses to the company."

Demand for relief package

Vodafone is seeking a relief package from the government. Under this, two-year moratorium (two years exemption from paying interest) period is seeking exemption from interest and tax, along with lower license fees, on spectrum payments. The company also wants an exemption from the Supreme Court ruling under which it has to pay regulatory fees.

Asked if Vodafone will continue in the Indian market. Reid said, "It's okay to say that the situation is very difficult." Red said that there is no increase in the value of the company from the Indian market.

Vodafone is the second largest mobile operator company in the world. The company's organic service revenue growth was 0.3 percent in the first half. The second quarter growth was 1.4 percent.