5G Auction: Auction process started, more than 1.45 lakh crore bidding on first day

The bidding for the country's largest spectrum auction was held on the first day. The auction process for 5G spectrum started from today. In this, bids were made for 72 GHz spectrum worth Rs 4.3 lakh crore. The first day ended with four rounds of auction.

Groups run by Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani bid Rs 1.45 lakh crore for 5G airwaves on the first day of India's biggest ever auction of spectrum used for mobile signals on Tuesday.

Ambani's Reliance Jio, Mittal's Bharti Airtel, Vodafone-Idea and a firm of the Adani Group, among all four applicants, "actively" participated in the auction of 5G spectrum, which offers ultra-high speed (about 10 times faster than 4G). ) offers. Leg-free connectivity and can enable billions of connected devices to share data in real-time.

Telecom Minister Ashwini Vaishnav said that four rounds of auction have been completed. On the first day of bidding, bids worth over Rs 1.45 lakh crore were made. Vaishnav told that the fifth round of auction will start from tomorrow. Vaishnav said the spectrum allocation is expected to be completed by August 15. He said that by the end of 2022, 5G services are expected to start in many cities.