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Biznextindia : The auction for allocation of 5G radioawaves begun on Tuesday, has entered the second day. India’s top business tycoons Mukesh Ambani, Gautam Adani, Sunil Mittal have continued aggressive bidding in the second day also.
There were 4 rounds of bidding on Tuesday. The 5th round of the auction begun at 10 am Wednesday. The Telecom Ministry and most telecom firms expect the auction to conclude on Wednesday.
The first day of the auction ended with top telecom firms buying spectrum worth more than Rs 1.45 trillion across frequency bands including 5G. Even the much-acclaimed and expensive 700-MHz spectrum has been picked up by telecom players.
5G service offers ultra-high speeds (about 10 times faster than 4G), lag-free connectivity, and can enable billions of connected devices to share data in real-time.
India’s Telecom Minister Ashwini Vaisnav said, he expects the auction will conclude in the second day and allocation will be completed by August 15. 5G services are expected in many cities by 2022-end.