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5G spectrum auction continues for the third day, bids of Rs 1.49 lakh crore have been received so far

New Delhi:5G Spectrum Auction: An auction of 5G spectrum has been organized by the government. On the second day of the auction, companies have bid for Rs 1,49,454 crore. The auction will continue on the third day as well. Looking at the data from the last two days, the 5G spectrum auction in 2021 saw a higher bid of Rs 71,639.2 crore than the 4G spectrum auction. A total of 9 rounds of auction have been completed till the end of Wednesday. So far, bids have been doubled compared to the 4G spectrum auction held in 2021. The 4G spectrum auction held in March 2021 saw a bid of Rs 77,814.80 crore. The auction was held in two days.

Briefing about the second day of the auction, Union Electronics and Information Technology Minister Ashwini Vaishnav said, ‘700 MHz has received a good response. It has also been sold. Also, the low and mid bands have good response.’ Meanwhile, the Cabinet meeting chaired by Prime Minister Narendra Modi gave permission to the Department of Telecom to auction 5G spectrum.

5G is 5th Next generation mobile network will benefit from high-speed data. Compared to 3G and 4G, 5G comes with much lower latency, which will provide a great experience to users across different sectors. Low latency gives you the benefit of high-speed internet in a very short amount of time. 5G is likely to be 10 times faster than 4G. The introduction of 5G will also facilitate further development in sectors such as mining, warehousing, telemedicine and manufacturing.

Meanwhile, Reliance Jio, Adani group, Bharti Airtel and Vodafone Idea are the major players in the spectrum auction. Also, Adani Group, a company owned by Gautam Adani, is also entering the telecom sector for the first time by participating in the 5G spectrum auction. The spectrum allocation process is likely to be completed by August 15. After that, 5G network will be available across the country in the month of September-October. By the end of this year, 5G service will have started in many cities of the country.

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