India's telecom sector is staring at decimation, thanks to state action

The Supreme Court has ordered the companies to pay the government not just the dues but a hefty penalty -- as well interest on both

India’s growth this century has been fueled by one sector above all: telecommunications. The connectivity revolution has powered India’s information technology behemoths and helped hundreds of millions of young Indians get onto the grid, giving them a chance to improve their prospects. If India is to become the sort of entrepreneurial superstar that its government hopes it will, then the telecom sector is obviously going to be central to that plan. 

So why does the Indian state seem determined to push telecom businesses into crushing debt and possible bankruptcy, instead of ensuring the sector remains healthy and competitive? This week, one