New Delhi: Vodafone Group CEO Nick Reid has apologized to the Government of India for his statement on Tuesday, in which he threatened to leave India in the event of the telecom sector not getting relief. He has reiterated in a letter to the government that the company wants to continue business in India. Reid also thanked the government's decision to form a panel for cooperation in the telecom sector.

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A senior official has said that Reid has sent a letter to Telecom Minister Ravi Shankar Prasad. Earlier, the government had expressed displeasure over the tone and timing of Reid's remarks. The CEO wrote in the letter, "I would like to thank the Government of India for preparing the relief package in view of the recent court decision on Adjusted Gross Revenue (AGR) and the increasing debt on the telecom industry." Reid said that his statement was exaggerated in India. He also apologized for the bad result from his statement. Reid said, 'My words in India have not been properly interpreted.' Reid made the statement a day earlier in London, announcing the company's three-month results, which caused a lot of uproars.

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Explaining his statement, Reed said, "I meant to say that the situation in India is becoming very fragile. I went to India, I met representatives of the government. I realized that I want to help the telecom industry as much as I can from the government. Reid has welcomed the decision to form a committee of secretaries to revive the telecom sector. He also thanked the Government of India for this, Reid said that Vodafone would be in touch with the Government of India for the next few weeks. The Vodafone CEO also reiterated his commitment to the Indian market, saying, 'Vodafone wants to stay in India for a long time'. Reid further said that the company has full confidence in India's prospects and telecom sector. India has become an important market for us.

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