HomeCURRENT AFFAIRSBUSINESS5G Auction Day 1: Bid Amount Exceeds Rs 1.45 Lakh Crore

5G Auction Day 1: Bid Amount Exceeds Rs 1.45 Lakh Crore

5G Auction Day 1: Bids worth Rs 1.45 lakh crore were received on the first day on Tuesday for the auction of fifth generation (5G) spectrum in the country. Companies of Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani bid for the biggest ever auction of radio waves.

All the four applicants, Ambani’s Reliance Jio, Mittal’s Bharti Airtel, Vodafone-Idea and Adani Group company participated in the 5G spectrum auction.

The spectrum is targeted to be allotted by August 14 while 5G services are expected to start in many cities by the end of the year.

He said that the government got bids worth Rs 1.45 lakh crore on the first day of bidding. This is more than expected and has exceeded the 2015 record.

As per the prescribed procedure, it will not be known during the auction which company has acquired how much spectrum.

Four rounds of auction have been held on the first day. Companies in the middle and upper bands were more interested. The companies placed strong bids in the 3300 MHz and 26 GHz bands.

According to the Telecom Minister, the participation of the four companies involved in the bidding is strong.

He said that the response of the companies to the auction, it seems that they have come out of tough times.

Vaishnav said the government will allocate spectrum in record time and 5G services are expected to start by September.

The target is to allot spectrum by August 14, he said.

With the advent of 5G services, the internet speed will be about 10 times higher than that of 4G. In this, the speed of the internet will be such that a movie can be downloaded on mobile in a few seconds. Along with this, it will revolutionize various areas including e-health, metaverse, state-of-the-art mobile cloud gaming.

The auction is being conducted for spectrum in (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), medium (3300 MHz) and high (26 GHz) frequency bands.

Also Read – Stock Market Update Today: Today’s Top Gainers

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOKINSTAGRAM, and TWITTER.

Enter Your Email To get daily Newsletter in your inbox

- Advertisement -

Latest Post

Latest News

- Advertisement -