India’s first fifth-generation (5G) spectrum auction concluded with airwaves worth a record Rs 1.5 trillion sold through a seven-day bidding process. Union Telecom Minister Ashwini Vaishnaw said that he sees industry investing Rs 2-3 lakh crore in two years as reforms by the government have removed uncertainty and risks, and provided a stable investment regime.
Buoyed by the results, Vaishnaw said he expects investments to be infused into both fourth and fifth generation technologies, for providing better voice quality and high-speed data.
Reliance Jio Infocomm Ltd has cornered nearly half of all the airwaves sold with Rs 88,078 crore bids. Richest Indian Gautam Adani’s group, whose entry in the auction was billed by some as another flash point in the competition with Jio Infocomm, paid Rs 212 crore for 400 MHz quantum or less than 1 per cent of all spectrum sold, in a band that is not used for offering public telephony services.
Telecom tycoon Sunil Bharti Mittal’s Bharti Airtel made a successful bid of Rs 43,084 crore, while Vodafone Idea Ltd bought spectrum for Rs 18,799 crore.
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