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The transaction is subject to the shareholders' approval of Bharti Telecom and the funds raised will be used towards debt reduction, Bharti Airtel said.

The TRAI envisions to become net become net positive in international trade of communication systems and services by 2022.

The budget doubled existing customs duties on imported lighters, perfumes, make-up, wrist watches, sunglasses, toys and gaming consoles.

Bitcoin prices also reacted to Facebook'sban on cryptocurrency adverts while a growing regulatory backlash against the nascent market frightened investors reported Reuters

According to industry experts, the customs duty hike will push foreign players towards manufacturing and sourcing components more within the country.

TRAI arrived at the decision after taking into consideration the comments received from the industry stakeholders.

Walmart could buy a 15 per cent to 20 per cent stake in Amazon.com Inc's main competitor in India, the newspaper said, citing two anonymous sources.

Airtel, India's largest telecoms operator, had expressed an interest to acquire the Nigerian firm as part of plans to consolidate its position in Africa's biggest telecoms market, but it declined to submit a financial bid before a January 16 deadline.

To raise funds and help repay what it owes, RCom announced plans to sell most of its wireless assets to another carrier Reliance Jio Infocomm Ltd.

The Economic Survey, in an apparent reference to Reliance Jio, said that low-cost data services by a new entrant has disrupted the market