Day 3 of the 5G spectrum auctions has begun, with the 10th round of bidding
On Wednesday, there were up to five rounds of bidding, and according to Telecom Minister Ashwini Vaishnaw, "strong competitiveness" was evident in practically all of the bands up for grabs.
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On Thursday, the tenth round of bidding for airwaves that would support lag-free connectivity and extremely fast internet entered Day 3 of India's 5G spectrum auctions.
As intense bidding across various bands by operators like Reliance Jio and Bharti Airtel kept the pace going and extended the sale to the third day on Wednesday, the auctions brought in Rs 1.49 lakh crore. On Wednesday, there were up to five rounds of bidding, and according to Telecom Minister Ashwini Vaishnaw, "strong competitiveness" was evident in practically all of the bands up for grabs.
Vaishnaw was pleased with the interest for the sought-after 700 MHz band, which had been up for sale twice previously in 2016 and 2021 but failed to attract any bidders. Vaishnaw told reporters on Wednesday, "The sector is emerging with new vitality and that is reflected in reaction to 5G auctions."
On the first day on Tuesday, when four rounds were held, businesses owned by tycoons Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani as well as Vodafone Idea submitted bids totaling Rs 1.45 lakh crore, and more demand for airwaves arrived in five rounds held on Wednesday.
