Financial stress at telecoms companies is now reflected in losses, employee lay-offs, possible loan defaults and an inability to auction all available spectrums. The industry's debt is estimated at Rs5trn-7.29trn (US$77bn-112bn), and it owes about Rs3trn to the government in spectrum payments. The entry of a new competitor, Reliance Jio (RJIL), owned by a large conglomerate with deep pockets, Reliance Industries, has increased competitive pressures.
In February 2018 an international credit rating agency, Fitch, revised its outlook for the telecoms sector from negative to stable, citing greater price competition in the market and lack of smaller players as the reason for the change.
Industry List: Fixed, Telecommunications, Internet, Telecommunications, Mobile, Telecommunications, Telecommunications
Industry Codes (NAIC): 517
Industry Codes (SIC): 48