The auction for 5G telecom spectrum has obtained a bid worth Rs. 1,49,454 crore at the end of Monday, and bids for the much-awaited spectrum sale will be extended for Tuesday.
Comparing the figures for two days shows 5G spectrum auction fetched Rs. That’s 71,639.2 times more than the 2021 4G spectrum auction. As a percentage, it’s 92.06% higher. Wednesday saw five rounds of auctions, bringing the total number of auction rounds to nine.
Previously, the auction was expected to be completed on Monday – Wednesday.
The number of bids received so far is almost double the amount received for the 4G spectrum auction in 2021. The 4G spectrum auction in March 2021 raised Rs. 77,814.80. The auction in 2021 is closed in two days.
Giving an update on the second day of the auction, Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw on Wednesday said: “700 MHz showed a good response, this time around. it’s sold out. Response is good in other low and mid-bands like Good.” The Union Cabinet chaired by Prime Minister Narendra Modi recently approved the Department of Telecommunications (DoT) 5G spectrum auction, through which spectrum will be delivered to contractors providing 5G services to the public as well as to the public. businesses.
5G is a fifth-generation mobile network capable of transferring large data sets at very fast speeds. Compared with 3G and 4G, 5G has very low latency, which enhances the user experience in different fields. Low latency describes efficiency for handling very large volumes of data messages with minimal latency. 5G service is expected to be about 10 times faster than 4G. The deployment of 5G is also expected to bring more developments in remote data monitoring in areas such as mining, warehousing, telemedicine, and manufacturing, among others.
Reliance Jio, Adani’s group, Bharti Airteland Vodafone idea are the four main participants in the spectrum auction. This is the first time that the Adani group led by Gautam Adani, which has recently entered the telecommunications sector, has participated in the bidding process for the 5G telecommunications spectrum auction.
Spectrum allocation to telecom operators is expected before August 15, and the first 5G services in the country will start from September to October. Speedy 5G telecommunications services will follow. High is expected to be made available in select cities in the county by the end of 2022.