The first day of the 5G auction for 72 GHz (gigahertz) airwaves valued at ₹ 4.3 lakh crore closed with a total of four rounds of intense bidding.
Here Are The 10 Points That Will Tell All About The First Day of the 5G Auction:
5G auction, for India’s largest ever spectrum which carries mobile signals for 5G airwaves, saw total bidding of ₹1.45 lakh Cr in four rounds on its first day by the organisations of business tycoons “Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani” on Tuesday.
The 5G spectrum is the key to accessing the fastest network, fastest enough to provide 10 times more speed and connectivity than 4G, and these four tycoons know it. That’s why “Ambani’s Reliance Jio, Mittal’s Bharti Airtel, Vodafone-Idea and an Adani group firm” are actively participating in the auction.
Ashwini Vaishnaw, Telecom Minister said, “Four auction rounds were completed, with the bid amount exceeding ₹ 1.45 lakh crore on the first day of bidding”.
Mr Vaishnaw further said that he hopes to complete the 5G auction and allocation by August 15 as the 5G services are expected to be available for the customers by the end of 2022. The fifth round of the auction will begin tomorrow.
3300 MHz and 26 GHz bands saw intense bidding, high interest was also seen for mid and high-end brands, and minor bids were also seen for the 700 MHz band, the Telecom Minister told reporters.
The auction was very alive as participation was intense, Minister said while adding that this response means the industry has recovered from very difficult times.
Mr Vaishnaw further added, “The government, he said, will allocate the spectrum in record time, and 5G services are expected to start rolling out by September. The target is to allocate the spectrum by August 14.”
The auction is expected to be finished in two days by the board industry. However, the total number of days in which the auction will end depends on the bidders and their strategies.
Wondering how fast 5G is? Let’s take the example of downloading a movie size 5GB. with 5G it can be downloaded in 35 seconds, with a 4G network it can be downloaded in 40 Minutes, with 3G 2hrs can be wasted and as for 2G, it will take 2.8 days as per Bipartisan Policy Centre.
The auction is being conducted for low, mid and high-frequency bands: 600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, and 2300 MHz are considered in low bands, 3300 MHz is mid, and 26 GHz is a high-end band.