India 5G auction raises $19bn

Author: EIS Release Date: Aug 10, 2022

72Ghz of spectrum was up for auction in India’s 5G airwaves sale and 71% of it has been sold for $19 billion.

 

The winning bids came from Mukesh Ambani’s Reliance-Jio (R-Jio), Vodafone Idea, Bharti Airtel and Gautam Adani’s Adani Data Networks.

 

Adani is the world’s fourth richest man with a worth of €112 billion, but his group spent only $26 milkion – concentrating on private spectrum in areas such as ports or airports – where  the company has already invested.

 

R-Jio was the largest bidder, buying spectrum worth $11 billion.

 

“Jio is fully ready for 5G rollout in the shortest period of time because of its nationwide fibre presence… and strong global partnerships across the technology ecosystem,” said R-Jio.

 

The government is expected to finish allocating airwaves by August and start rolling out 5G services in early October this year.

 

“Within a year or so, we should have a good rollout of 5G in the country,” says telecoms minister Ashwini Vaishnaw.