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India: Bharti to rely less on telecom

The Bharti Group is aiming to reduce its dependence on the telecom sector to 50 per cent for the group’s revenues by 2013. At the moment, telecom operations provide over 80 per cent of its revenues with new businesses which include retail, financial services and agriculture just about taking off the ground.

Unveiling a new brand for the group, the third time that the group has announced mega brand changes, Sunil Bharti Mittal, chairman and group CEO, Bharti Enterprises, said, “We are breaking free from our telecom legacy. In the next five years, we hope to get more than 50 per cent of our revenues from businesses other than telecom, which constitutes more than 80 per cent right now.”

Read the full story in Business Standard here.

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