5G spectrum auction ends, govt nets Rs 1,50,173 Cr with Jio sweeping lion's share

Jio acquired close to half of all the airwaves sold in the latest auction for ₹ 88,078 crores.

''Telecom industry responds to PM @narendramodi Ji’s telecom reforms: 5G spectrum auction grosses Rs. 1,50,173 Crore,'' Union Minister of Electronics and Information Technology Ashwini Vaishnaw said in a tweet.

Jio acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the auctions while Airtel acquired 19867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands through the auction for Rs 43,084 cr.

Akash M Ambani, Chairman, Reliance Jio Infocomm said, “We have always believed that India will become a leading economic power in the world by adopting the power of breakthrough technologies. This was the vision and conviction that gave birth to Jio.

"The speed, scale and societal impact of Jio’s 4G rollout is unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead India’s march into the 5G era.''

''We will celebrate ‘Azadi ka Amrit Mahotsav’ with a pan India 5G rollout. Jio is committed to offering world-class, affordable 5G and 5G-enabled services. We will provide services, platforms and solutions that will accelerate India’s digital revolution, especially in crucial sectors like education, healthcare, agriculture, manufacturing and e-governance and make another proud contribution to Prime Minister’s Digital India Mission,'' he said.

Gopal Vittal, M D and CEO, Bharti Airtel said, “Airtel is delighted with the results of the 5G auction. This spectrum acquisition at the latest auction has been a part of a deliberate strategy to buy the best spectrum assets at a substantially lower relative cost compared to our competition.

"This will allow us to raise the bar on innovation and address the emerging needs of every discerning customer who demands the best experience in India.''
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"We are confident that we will be able to deliver the best 5G experience in India in terms of coverage, speeds and latency. This will allow us to change a lot of established paradigms for both our B2C and B2B customers. 5G technology is the revolution that can alter India’s manufacturing, services and several other sectors. We remain fully committed to the Government’s Digital India vision and will continue to do what is needed to ensure that India becomes a beacon for the world in terms of technology,” he said.

[With UNI inputs]