Day 2 of 5G spectrum auction today; Day 1 brought bids of Rs1.45 lakh crore

27 Jul 2022 , 02:11 PM

The 5G spectrum auction opened its second day on Wednesday with the start of the fifth round after receiving bids worth more than expected (Rs1.45 lakh crore) on the first day. The e-auction to purchase fifth-generation (5G) airwaves is being attended by businesses owned by businessmen Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani as well as Vodafone Idea.

Following the conclusion of the four rounds of spectrum bidding on the first day on Tuesday, the government received verified spectrum bids totaling Rs 1.45 lakh crore. The 5G spectrum can enable billions of linked devices to communicate data in real-time and delivers ultra-high speeds (about 10 times faster than 4G).

In addition to enabling connections with extremely low latency that allow full-length, high-quality videos or movies to be downloaded to a mobile device in a matter of seconds (even in crowded areas), 5G would also enable solutions for e-health, connected cars, more immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming, among other things. By September, 5G services should be available. The government anticipates allocating the airwaves in a record amount of time.