The auction for the 5G telecom spectrum has receive bids worth Rs. 1,49,454 crore at the end of the second day and the bids for the much-await spectrum sale are extend for the third day.
A comparison of the two-day figures shows that the 5G spectrum auction fetch Rs. 71,639.2 crore more than the 4G spectrum auction of 2021.
In percentage terms, it is 92.06% higher.
On wednesday saw five rounds of the auction, taking the total rounds to nine.
Earlier it was expect the auction would be complete on the second day.
The bids receive so far are almost double the amount receive for the 4G spectrum auction in 2021.
The 4G spectrum auction in March 2021 fetch Rs. 77,814.80.
The auction in 2021 was conclude in two days.
Giving updates about the second day of the auction, Union Minister of Communications, Electronics and Information Technology Ashwini Vaishnaw said :
“700 MHz has seen a good response, it has been sold this time. Good response in other low and mid bands as well.”
The Union Cabinet chair by Prime Minister Narendra Modi had recently approve the Department of Telecommunications (DoT)’s 5G spectrum auction through which spectrum will be assign to bidders to provide 5G services to the public as well as enterprises.
5G is the fifth-generation mobile network capable of transmitting a large set of data at a very rapid speed.
In comparison to 3G and 4G, 5G has a very low latency which will enhance user experiences in various sectors.
Low latency describes the efficiency to process a very high volume of data messages with a minimal delay.
5G services are expect to be about 10 times faster than 4G.
The 5G rollout is also expect to bring more development in remote data monitoring in sectors such as mining, warehousing, telemedicine, and manufacturing, among many others.
Reliance Jio, Adani group, Bharti Airtel, and Vodafone Idea are the four major participants in the spectrum auction.
This is the first time that the Gautam Adani-led Adani group, which recently foray into the telecom sector, participate in the bidding process of the 5G telecom spectrum auction.
Allocation of spectrums to the telecom operators is expect before 15th August 2022, and the initial 5G services in the country will start by September-October.
High-speed 5G telecom services are expect to be offer in many cities in India by the end of the year 2022.
