5G spectrum auction enters Day 3: Received bids worth Rs 1.5 trillion so far

At the conclusion of the second day of auction for 5G telecom spectrum, bids totaling Rs 1,49,454 crore had been received. The bids for the much anticipated spectrum sale have been extended for a third day.

5G spectrum auction brought in Rs 71,639.2 crore more than 4G spectrum sale of 2021, according to a comparison of two-day numbers. It is higher by 92.06 percent in percentage terms. The auction saw five rounds on Wednesday, bringing total to nine. Earlier, it was anticipated that sale would end on Wednesday, the second day.

The bids submitted so far are roughly twice as many as those submitted for 2021 4G spectrum auction. The winning bid for 4G spectrum auction in March 2021 was Rs 77,814.80.

In 2021, the auction was finished in just two days.

Ashwini Vaishnaw, union minister for communications, electronics, and information technology, provided details on auction’s second day on Wednesday “This time, 700 MHz has been sold due to the positive response. Other low and mid bands also responded favourably.”

However, 5G spectrum auction, in which spectrum will be allotted to bidders to deliver 5G services to public and businesses, was recently authorised by Union Cabinet, which is presided over by Prime Minister Narendra Modi.

The fifth-generation (5G) mobile network is able to send massive amounts of data at extremely fast rates.

However, 5G has an extremely low latency compared to 3G and 4G, which will improve user experiences across a variety of industries. Low latency refers to the ability to efficiently handle a large number of data packets with little delay. The predicted speed of 5G services above 4G is around ten times quicker.

The introduction of 5G is also anticipated to advance remote data monitoring in industries like mining, manufacturing, telemedicine, and storage, among others.

Four main players in spectrum auction are Reliance Jio, Adani Group, Bharti Airtel, and Vodafone Idea. Adani group, lead by Gautam Adani, just entered the telecom industry. This was their first time competing in the 5G telecom spectrum auction.

Prior to August 15th, the telecom operators are anticipated to get their spectrum allocations, and between September and October will see the launch of the nation’s first 5G services. By the end of 2022, it is anticipated that various cities in the county will provide high-speed 5G telecom services.