5G Spectrum Auction: Here’s all you need to know
As of Friday (July 29), the fourth day of the sale, India‘s 5G spectrum auction has received bids totalling around Rs 1,49,855 crore, and Saturday’s auction will now take place due to sustained interest in radiowaves. According to Telecom Minister Ashwini Vaishnaw, almost 71% of the entire spectrum put up for sale has already been tentatively sold.
Vaishnaw commented, “This is a very good response. Following seven rounds of bidding, Rs 231.6 crore was eventually awarded on Friday. There has been a total of 23 rounds of bidding thus far. Reliance Jio, owned by billionaire Mukesh Ambani, Bharti Airtel, Vodafone Idea, and a division of Gautam Adani’s Adani Enterprises are competing for 5G spectrum, it provides connectivity without lagging, speeds that are about 10 times faster than 4G, and real-time data sharing among billions of linked devices.
The numbers increased gradually over the following days till Friday as Jio and Airtel participated in competitive bidding for the 1800 MHz band in the UP-East circle, following a strong start on Tuesday that saw participants pour in Rs 1.45 lakh crore on Day 1. By Thursday’s end, bids totalling Rs. 1,49,623 crores had been received.
Radiowaves with a frequency range of 72 GHz (gigahertz) were put up for auction, with a minimum value of Rs 4.3 lakh crore. The government is holding an auction for spectrum in the low (3300 MHz), mid (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, and 2500 MHz), and high (26 GHz) frequency bands. According to reports, the minister will also meet with PE funds, VCs, investors, and banks in Mumbai on Saturday to hear their opinions and concerns as well as to go through the telecom sector’s growth strategy.
Sources stated that the action was taken while the government was drafting a new legislative framework for the industry. Fifth Generation, or 5G, would make it possible to implement solutions like e-health, linked cars, more immersive augmented reality, and metaverse use cases, as well as sophisticated mobile cloud gaming, among others, in addition to powering ultra-low latency connections that allow full-length high-quality video or movie downloads to a mobile device in a matter of seconds (even in crowded areas).
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