Industry upbeat on nearly Rs 1.5 lakh cr worth bids for 5G spectrum

New Delhi: Industry leaders on Thursday hailed the ongoing 5G spectrum auction that has touched nearly Rs 1.5 lakh crore in just two days of bidding, saying it is a watershed moment for the country and its communication and information services.

Pankaj Mohindroo, Chairman of the India Cellular and Electronic Association (ICEA) told IANS that the 5G auctions have also attracted robust investor interest.

“Although lowering of base prices would have further helped, steps such as no spectrum usage charges and no requirement of submitting a financial bank guarantee equivalent to one annual installment would be supportive for the industry and consumers,a Mohindroo said.