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India to revive state-owned telecom company BSNL with over 20 billion USD

NEW DELHI
2022-07-28 00:27

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NEW DELHI, July 27 (Xinhua) -- In a bid to improve and expand telecom services in rural areas, the Indian government on Wednesday approved a fund of 20.52 billion U.S. dollars to revive the state-owned telecommunications service provider, Bharat Sanchar Nigam Limited (BSNL).

Facing the competition from private telecom services providers in India, the BSNL has been in dire straits for many years.

"To make BSNL financially viable, the Union Cabinet chaired by Prime Minister Narendra Modi today approved the revival package of BSNL amounting to 1.64 Lakh Crores Indian Rupees (20.52 billion U.S. dollars)," said a statement issued by the federal government.

The statement said that with the support, the BSNL will be able to improve the quality of its services, roll out 4G services and become financially viable.

It is expected that with the implementation of this revival plan, the BSNL will turn around and earn profit in financial year 2026-27, said the statement.
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