There’s usually nothing like a regulator’s spectrum paper to send telecom stocks into a cold sweat. But this time, India’s satellite spectrum move has done the opposite. It has cleared the skies for Reliance Industries’ subsidiary Jio Infocomm and Bharti Airtel, and investors can breathe easy.The Telecom Regulatory Authority of India’s latest recommendations on satellite communications are ambitious, but not aggressive. The policy pitch is inclusion, not disruption.
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