hometechnology News5G Spectrum Auction: Action ends on 7th day with bids crossing a record Rs 1.5 lakh crore
5G Spectrum Auction: Action ends on 7th day with bids crossing a record Rs 1.5 lakh crore
A total of 72 gigahertz (GHz) of 5G airwaves worth Rs 4.3 lakh crore were on offer with a validity period of 20 years in the country's biggest-ever auction of spectrum. The auction was held in low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands.
The mega auction for the 5G spectrum concluded on August 1, its seventh day. The government received bids worth more than a record Rs 1.5 lakh crore — a new record, up from the previous high of Rs 1.09 lakh crore in the 2015 auction.
For perspective, In 2015, the government had received bids worth Rs 1.09 lakh crore; Rs 65,789 crore in 2016; and Rs 77.814 crore in 2021.
The mega 5G spectrum auction had begun on July 26 with Reliance Jio, Adani Group, Bharti Airtel and Vodafone Idea as participants in the race.
A total of 72 gigahertz (GHz) of 5G airwaves worth Rs 4.3 lakh crore were on offer with a validity period of 20 years in the country's biggest-ever auction of spectrum.
The auction was held in low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands.
Prime Minister Narendra Modi will be launching the 5G services in India during the inauguration of the Indian Mobile Congress in Delhi on Saturday morning.
The government had sweetened the pot by providing flexi-payment terms, and no spectrum usage charges, which added to the bidding buoyancy.
Union Minister for Telecom Ashwini Vaishnaw said there was competition in the 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2500 MHz, 3300 MHz and 26GHz bands.
According to government officials, the premium 700 MHz low band — which offers the highest coverage areawise — received bids for the first time ever.
According to sources, Union Minister for Telecom Ashwini Vaishnaw will host a roundtable on Saturday during which he will seek to understand the concerns of investors and financial institutions.
It is also learnt that the government is keen on pitching telecommunications as a sunrise sector, no longer bogged down by legacy issues, and will introduce a 10-point reform agenda to overhaul the legal framework to sort out legacy issue.
First Published: Aug 1, 2022 2:43 PM IST
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