There has been speculation for a couple of years that Vodafone might exit the Indian market following a string of setbacks and intensifying competition from the newest mobile player, Reliance Jio. The latest ruling by the Indian Supreme Court – which has rejected another appeal to reduce the money operators owe the government for ‘adjusted gross revenue’ (AGR) – may be the final straw. The operators have been battling the government over the retrospective fees or tax based on AGR calculations, which add up to over $18bn between the three main players plus Tata Teleservices. The burden will fall most heavily on Vodafone Idea and Bharti Airtel because they are longer established than Jio – Vodafone is required to pay…