Sunil Bharti Mittal, Chairman at Bharti Airtel says feels that the Prime Minister's pitch for stable tax regime and ease of doing business in India will resonate and go down extremely well with the global audience.
Wooing global investors, Prime Minister Narendra Modi on Sunday promised to make India the "easiest" destination to do business with a stable tax regime and a predictable, transparent and fair policy environment.
In an interview with CNBC-TV18's Sajeet Manghat, Sunil Bharti Mittal, Chairman at Bharti Airtel says feels that the Prime Minister's pitch for stable tax regime and ease of doing business in India will resonate and go down extremely well with the global audience.
On Vibrant Gujarat, he says the summit has become bigger and stronger while delivering much more punch with investment plans.
Below is the edited transcript of Sunil Bharti Mittal's interview:
Q: It is your second time here, how has the journey at Vibrant Gujarat been?
A: I think it's been an outstanding success. This is my second time at Vibrant Gujarat after 2009 and every time I come here, it is bigger, it is stronger and it delivers much more punch with investment plans.
Q: The Prime Minister spoke about stable policy in tax regime. Will that attract investments?
A: I think that message was for the global audience that India will have stable tax regime and that message will go down very well globally and he spoke about ease of doing business. I think both these things resonate extremely well with the global audience.
Q: What do you make out of the 3G auction prices?
A: Government sets the prices; we have to take our decision in participation. They are now launching the auction on February 25. We all will get prepared.
Q: Are you fine with the pricing?
A: Pricing is not a question of fine or not because these are reserved prices. The discovered prices can be very different. We have had one auction where there was very little participation. There have been two auctions where there was heavy participation. So pricing of reserved price in itself is not an issue. Let's see what the discovered price is.
Bharti Airtel stock price
On January 12, 2015, at 09:26 hrs Bharti Airtel was quoting at Rs 352.35, down Rs 4.05, or 1.14 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.
The company's trailing 12-month (TTM) EPS was at Rs 27.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 12.86. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.11.
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