Kumar Mangalam Birla's Statement on Vodafone-Idea Raises Questions About Jio-Airtel's Future

By: Aman Singh

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Updated on: 27-Apr-2023

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Speaking about his decision, Birla expressed his belief in the company and its potential for growth. He stated that he sees "hope" in the business and wanted to signal his commitment to take it forward. Birla's return to the board of Vi is particularly significant as he had stepped down as the non-executive chairman of the company in August 2021, citing the company's poor financial health.

Birla's re-entry into the board of directors has come at a time when Vi is in dire need of fresh leadership and new strategies to compete with its rivals. While Jio and Airtel have already launched their 5G services, Vi is still in the preparation phase for this next-generation technology. However, Birla is confident that the government's recent actions, such as converting dues and becoming the largest shareholder in Vi, will help the company to survive and thrive in the strategically important telecom sector.

Birla also acknowledged that his rivals Bharti Airtel and Reliance Jio are doing well, but he remains optimistic about Vi's prospects. He believes that the government is "very determined" to support the telecom industry and encourage growth in the sector. Meanwhile, Birla has also announced that a member of his family will replace him as chairman of the $60 billion Aditya Birla Group, which he has been leading for several years. Birla's son Aryaman and daughter Ananya are currently learning the ropes of the business and are expected to take on more significant roles in the future.