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Telcos bid for 5G spectrum worth Rs 1.45 lakh crore on first day: Report

After four rounds of bidding for 5G spectrum, the government received Rs.1.45 lakh crore in bids, aims to roll out services by September

The Indian government is set to earn a sizeable sum as it received bids worth Rs.1.45 lakh crore following four rounds of 5G spectrum auction on the first day, according to Economic Times. The auction saw participation of telcos like Airtel, Jio, and Vodafone and is expected to wind up on Wednesday (July 27, 2022), the report added. Why it matters: The auction is significant as it will decide how much spectrum will be taken up by telecom companies who will then provide 5G services across the country. It also means that Indians will soon be able to use 5G, which offers speeds faster than 4G, on their phones. How much spectrum is being auctioned: A total of 72097.85 MHz of spectrum with a validity period of 20 years will be put to auction, the Department of Telecommunications (DoT) had said earlier. The total worth of the spectrum at reserve prices can be put at Rs. 4.3 lakh crore. The auction was held for spectrum in the following frequency bands- Low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), Mid (3300 MHz), High (26 GHz). The bands in the mid and high frequencies are reserved for 5G which is set to be at least 10 times faster than 4G. The mid and high bands attracted “strong bids” from all three telcos, as per ET. Why is Adani participating in the auction: The foray of Adani Enterprises into the auction turned quite a few heads…

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