December 9, 2022
Auction For 5G: Jio, Adani, Bharti Airtel, And Vodafone Idea Participate

India is prepared to make a significant advancement towards the 5G future, which is the 5th generation technology standard for broadband cellular networks, with the start of its largest-ever spectrum auction on Tuesday. 

In the 5G spectrum auction, the spectrum will be allotted to bidders to deliver 5G services to the general public and businesses in India, this had not so long ago been authorized by the Union Cabinet, which is presided over by the country’s Prime Minister, Narendra Damodardas Modi.

As per reports, 4 major telecommunication companies will be taking part in this auction: Reliance Jio Infocomm Limited, which has invested INR 14,000 Crore,  Bharti Airtel Limited (NSE: BHARTIARTL), which has invested INR 5,500 Crore, Vodafone Idea Limited (NSE: IDEA), which has invested INR 2,200 Crore, and Adani Group’s telecom division – Adani Data Networks Limited, which has invested INR 100 Crore. These firms have provided the Indian Government’s Department of Telecommunications, or DoT, with Earnest Money Deposits or EMDs, a significant indicator of their purpose to bid. 

Adani Group is taking part in the 5G telecom spectrum auction to offer private network solutions and improved cyber security at ports, airports, logistics centres, and facilities for the production of various manufactured goods, and has no plans to compete in the consumer mobility market.

According to the Minister for Communications, Electronics and Information Technology and Railways, Ashwini Vaishnaw, by the month of March 2023, completely developed and established 5G services are anticipated to come in the country. The Minister further stated that the 5G spectrum auction would be finished by the end of July. The main platform for consuming digital content is telecom, thus bringing reliable solutions to telecom is crucial. 

Also Read: MONEYME Reports Record Earnings, Revenue Reaches USD 138 M In FY22

Vaishnaw believes that India must develop the technology and essential network for 5G services since it will be considered as a national accomplishment. While talking about how good a 5G network must be, when it comes to speed, the 5G service capacity would be roughly ten times greater than what is currently feasible with the 4G service.

Leave a Reply

Your email address will not be published.

It's always the best to move ahead of time.

Keep yourself updated with the knowledge of Fintech, Web 3, or the metaverse world,  join our community here