Mukesh Ambani, India’s wealthiest individual with a real-time net worth of USD 114.3 billion (Rs 953590 crore) according to Forbes, continues to expand his business empire. One of his key ventures, Reliance Jio, launched in 2016, is now poised for a significant expansion with its aim to provide high-speed internet through a nationwide 5G network, reaching even rural areas of India.
This ambition is reflected in their participation in the latest round of the 5G spectrum auction, which began on Tuesday. The Indian government is selling airwaves worth Rs 96,317.65 crore for over 10,500 Mhz mobile services, and Reliance Jio has made the highest deposit of earnest money – Rs 3,000 crore – demonstrating their commitment to acquiring the maximum radio waves possible.
Other major telecom operators, including Airtel and Vodafone Idea, are also participating in the auction, having expressed interest in four spectrum bands: 900 MHz, 1,800 MHz, 2,100 MHz, and 2,500 MHz. The auction is considered significant as it marks the 10th since the online bidding process for the sale of radiowaves began in 2010. The last spectrum auction in August 2022 included radio waves for 5G services for the first time.
The Department of Telecommunications (DoT) initiated the current auction, with the notice inviting applications issued on March 8. The Ministry of Communications has announced that the following spectrum bands will be up for bidding: 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz. The 3,300 Mhz band and 26 Mhz band are particularly viewed as ideal for 5G services.
Bharti Airtel has submitted an earnest money deposit (EMD) of Rs 1,050 crore, while Vodafone Idea (VIL) has deposited Rs 300 crore. SP Kochhar, Director General of the Cellular Operators’ Association of India, believes the 5G auctions will significantly accelerate the rollout of 5G services across the country, leading to enhanced coverage and vastly improved connectivity.
