Indian operator Vodafone Idea finally has some good news to celebrate after a reported gain in subscriber numbers and a potentially positive outcome in its pursuit of relief from AGR debt demands. But will this good fortune last?
Recent analysis cited by India’s Economic Times indicates that Vodafone Idea has posted its first active subscriber increase in nearly two years, adding around 20,000 connections in September 2025. The company also added 300,000 4G data subscribers during the month.
The operator had been losing an average of 1.7 million subscribers monthly throughout 2024, though this had decreased to an average of 600,000 in 2025. However, its active subscriber base of 172 million remains down from 180 million a year ago. Indeed, notwithstanding the new customers, it reportedly lost 700,000 subscribers in September.
This modest boost follows the new that this week India’s Supreme Court has allowed the government to address the operator's grievances and reassess ongoing demands for adjusted gross revenue (AGR) dues without judicial intervention.
Earlier this year, the Supreme Court had refused to review its 2021 order rejecting pleas by some telecoms companies (including Vodafone Idea) for rectification of alleged errors in the calculation of AGR dues. This situation may now change.
This time the court suggested its decision was made bearing in mind the interests of the 200 million customers of Vodafone Idea, a company in which the government has a 49% stake.
While it’s by no means clear what will happen next, this does seem to imply a breathing space for Vodafone Idea, allowing it to sustain operations, attract fresh investment and, possibly, to get further AGR relief – and, ideally, for the government to come up with a plan for Vi’s long-term sustainability.
However, the Economic Times points out that only around INR760 billion (about US$8.6 billion) of Vodafone Idea’s barely believable INR1.96 trillion (about US$22.2 billion) debt relates to AGR liabilities.
And, of course, it’s still investing in network upgrades and the rollout of 5G. There may therefore be a lot more support required before Vodafone Idea can finally go it alone.
