AGR verdict: Jio emerges winner as Airtel, Voda Idea face $7 billion bill

The Supreme Court on Thursday ordered phone operators in the country to pay the government a combined Rs 920 billion in past airwaves and license fees

In the latest body blow to India’s wireless carriers, Mukesh Ambani’s Reliance Jio has come out largely unscathed, bolstering its position as the top operator in the world’s second-biggest market by users.

The Supreme Court on Thursday ordered phone operators in the country to pay the government a combined Rs 920 billion ($13 billion) in past airwaves and license fees. The ruling came after a two-decades-old legal dispute between authorities and the companies over the payments.

In a market already bruised by a price war since Jio’s 2016 entry with free calls and cheap data, the biggest loser from the verdict is