Live 5G Spectrum Auction - Round 1 of Bidding Over
Reliance Jio expected to be biggest bidder
Reliance Jio and Bharti Airtel were two of the four businesses who submitted a proposal for the 72 GHz of radiowaves that are up for grabs in the 5G spectrum auction, which gets underway on July 26.
On the first day of India's largest-ever auction for mobile signal spectrum on July 26, companies controlled by business moguls Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani made bids for 5G airwaves totaling Rs 1.45 lakh crore.
On the first day, there were four rounds of bidding, with high-end and midrange bands drawing a lot of interest. Strong offers were made for the 3300 MHz and 26 GHz frequencies.
The first-ever 5G spectrum auction in India came to a halt after four rounds on July 26. The action will pick back up on July 27 with the fifth round.
The first 5G spectrum auction in India is presently taking place, with a total of 72 GHz (gigahertz) of radiowaves valued at at least Rs 4.3 lakh crore up for grabs.
Spectrum in a number of low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, and 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands is being auctioned off.
According to the procedure, it won't be known which corporation won how many airwaves until the contest is over.
Due to the deployment of cutting-edge use-cases and technology, the impending 5G services have the ability to establish new age businesses, increase revenue for businesses, and create jobs.
The IT Sector or Information Technology Sector in India is booming. As per reports by IBEF the IT Industry accounts for 8% of India’s GDP.