The 2022 5G spectrum auction has received an extremely strong response from the industry. This is just a testament to the fact that the telcos are optimistic about business with both 5G and 4G in the coming years. Telcos have also invested in 4G spectrum, and it comes as no surprise to anyone as the telcos are also trying to expand 4G services. On Day 5 of the 2022 spectrum auction, the total bid amount reached Rs 1,49,966 crore after 30 rounds of bidding. Also on day 5, a total of seven clock rounds were completed. But the spectrum auction is not over yet. The telcos will meet again on July 31, 2022 to bid for more ether. The cumulative amount may exceed the Rs 1.50 lakh crore mark on day six of the bidding which is tomorrow.
Speaking at a Telecom Investors Roundtable in Mumbai, India’s telecoms minister Ashwini Vaishnaw said this 5G spectrum auction shows the industry is looking to expand and has gotten out of trouble. Vaishnaw’s statement comes after the telecom industry has received many emergency measures to help them with its liquidity problems. Had it not been for that, this spectrum auction result would not have been a reality.
From day 1, Reliance Jio is the expected party to place the largest bids. It wouldn’t come as a surprise to anyone since Jio had deposited most of the amount in EMD (Earnest Money Deposit). 5G is an exciting technology that the entire telecom industry is waiting to be turned into a reality for Indian consumers. For the first time, Indian users can see an average of 100 Mbps download speed in their 5G enabled smartphones. But 5G is a broader technology and is beneficial not only for retail consumers, but also for enterprises. It will be interesting to see what happens on day six of the burgeoning spectrum auction.
