The 5G spectrum auction has been completed and all formalities including approvals, allocation and taking upfront payments will be completed in the next few days (by Aug 12), said IT Minister Ashwini Vaishnaw on Monday.
“It seems we would be able to launch 5g in the country by October,” said Vaishaw. Mukesh Ambani-led Reliance Jio emerged the top bidder in India's 5G spectrum auction, acquiring 24,740 MHz spectrum worth Rs 88,078 crore.
“The acquisition of the right to use this spectrum will enable Jio to build the World’s most advanced 5G network and further strengthen India’s global leadership in wireless broadband connectivity. Jio’s 5G network will enable the next generation of digital solutions that will accelerate India’s AI-driven march towards becoming a US$ 5+ trillion economy,” JIO said in a statement.
Airtel said it now plans to launch 5G services in every part of the country, starting with key cities. Pankaj Mohindroo, Chairman of the India Cellular and Electronic Association (ICEA), said that they are delighted that the 5G rollout is formally on course.
Highlights:
• Sunil Mittal's Bharti Airtel was the second-highest bidder with 19,867 MHz spectrum in various bands worth Rs 43,084 crore in the auction that spanned for seven days with 40 rounds.
• Vodafone Idea, at third place, received 2,668 MHz worth Rs 18,784 crore while a unit of Adani Group acquired 400 MHz spectrum in 26 GHz band worth Rs 212 crore.
• Overall, the country saw bids worth Rs 1,50,173 crore for 71 per cent of total 5G airwaves spectrum out in this latest auction.
• Reliance Jio took the more expensive 700MHz in all 22 circles. The band has a range from 5-10 km which gives good base coverage.
• Airtel acquired 19,867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands for Rs 43,084 crore. Airtel has secured 5G spectrum for 20 years in this auction.
(With Agency Inputs)