5G Spectrum Auction 2022 Day 5: Bid Amount Reaches Rs 1,49,966 Crore

During a Telecom Investors Roundtable in Mumbai, Ashwini Vaishnaw, the telecom minister of India, said that this 5G spectrum auction shows that the industry wants to expand, and it has come out of problems. The statement from Vaishnaw comes after the telecom industry has received many relief measures helping them with the liquidity concerns.

Highlights

  • The 5G spectrum auction of 2022 has seen an immensely strong response from the sector.
  • On day 5 of the spectrum auction 2022, the total bid amount reached Rs 1,49,966 crore after 30 rounds of bidding.
  • From day 1, it has been Reliance Jio as the expected party to place the largest bids.

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The 5G spectrum auction of 2022 has seen an immensely strong response from the sector. This is just a testament to the fact that the telcos are bullish about business with 5G as well as 4G in the coming years. Telcos have also invested in the 4G spectrum, and it is not a surprise for anyone as the telcos are trying to expand 4G services as well. On day 5 of the spectrum auction 2022, the total bid amount reached Rs 1,49,966 crore after 30 rounds of bidding. A total of seven clock rounds were completed on day 5 as well. But the spectrum auction isn't over yet. The telcos will meet again on July 31, 2022, to bid for more airwaves. The cumulative amount may cross the Rs 1.50 lakh crore mark on day six of bidding, which is tomorrow.

During a Telecom Investors Roundtable in Mumbai, Ashwini Vaishnaw, the telecom minister of India, said that this 5G spectrum auction shows that the industry wants to expand, and it has come out of problems. The statement from Vaishnaw comes after the telecom industry has received many relief measures helping them with the liquidity concerns. Had that not been the case, this spectrum auction result would not have been a reality.

From day 1, it has been Reliance Jio as the expected party to place the largest bids. It wouldn't be a surprise to anyone as Jio had submitted the most amount in EMD (Earnest Money Deposit). 5G is an exciting technology for which the entire telecom industry is waiting to be turned into a reality for Indian consumers. For the first time, Indian users may see 100 Mbps download speed on average in their 5G-enabled smartphones. But 5G is a broader technology and is not just beneficial for retail consumers but also the enterprises. It will be interesting to see what happens on day six of spectrum auction budding.

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