Ahead of Reliance Jio's 4G launch, Bharti Airtel commits Rs 60,000 crore investment in 3 years

Country's biggest telecommunications carrier, Bharti Airtel, said it will invest Rs 60,000 crore ($8.98 billion) over three years to upgrade its network to improve voice and data services in the world's second-biggest mobile phone market by number of customers.

The bulk of the investment will be in building infrastructure as the company has already bought most of the radio airwaves needed, Gopal Vittal, the company's chief executive for India and South Asia, told a news conference.

The planned investment includes the capital expenditure target of about $2.2 billion for the current fiscal year to March 2016.

Competition in the telecommunications sector is set to heat up as Reliance Industries, controlled by Mukesh Ambani, is preparing to launch the nation's biggest 4G broadband network.

($1 = Rs 66.7800)

(Reuters)