The government has garnered bids worth Rs Rs 1,50,173 crore in the 5G spectrum auction that concluded on Monday and the allocation to the successful bidders would be done by August 10, Union Minister of Communications, Electronics and Information Technology Ashwini Vaishnaw told news agency ANI.
Vaishnaw said that the first instalment of Rs 13,365 crore will be paid to the government within 10 days. “Auction has been completed and in the next few days, till August 10, all formalities including approving and allocating the spectrum will be done,” he said.
“It seems we would be able to launch 5G in the country by October. The ongoing 5G spectrum auction indicates that the country’s telecom industry has come a long way in 5G advancements, the minister said.
Vaishnaw said that better availability of spectrum will improve the quality of telecom services in the country.
Spectrum purchases by mobile operators are good enough for covering 5G to the entire country, he added.
India’s biggest ever auction of airwaves ended on Monday, with spectrum worth Rs 1,50,173 crore being sold.
Reliance Jio Infocomm Limited has made bids worth Rs 88,078 crore accounting for 58.65 per cent of the total value of Rs 1,50,173 crore received by the government in the 5G spectrum auction.