5G spectrum auction extends to Day 3; govt receives Rs 1.49-trn bids so far

India’s first 5G auction on Wednesday received bids worth Rs 1.49 trillion on day two, as aggressive bidding across bands by players like Reliance Jio and Bharti Airtel pushed the sale over to the third day.

As many as five rounds of bidding were conducted for the 5G spectrum, capable of offering lag-free connectivity and ultra-high-speed internet.

Telecom Minister Ashwini Vaishnaw said that “good competition” was seen in almost all bands on offer.

Vaishnaw expressed happiness at the response received for the 700 MHz band, which did not find any takers in the last two auctions held in 2016 and 2021. The coveted and expensive 700 MHz band is important for coverage of far-flung areas.