Following the news that India’s Department of Telecommunications (DoT) has frozen the AGR dues of operator Vodafone Idea and allowed staggered repayments spread over 16 years until 2041, the company is now looking ahead with some ambitious investment plans. Funding will come from bank debt and non-funded facilities, but Vodafone Plc and Aditya Birla Group, whose merger formed the company and which both still have a significant stake in Vodafone Idea, have planned no immediate equity infusion. Vodafone idea is still suffering subscriber losses and net financial losses, but these are apparently falling, while ARPU is going up, driven by higher data consumption. Some would argue that the recent resolution of the adjusted gross revenue (AGR) dues has marked a decisive turning point for the company. The company still owes a lot of money, however – more than US$9 billion – in AGR dues, not to mention other debts.