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India is all set to hold its first 5G airwaves auction as the Cabinet has approved the auction of the high-speed telecom spectrum.
"Moving forward with PM @narendramodi Ji's vision of a Digital India. The Spectrum auction announced today is an integral part of developing #BharatKa5G ecosystem." tweeted Mr. Ashwini Vaishnav, Minister of Telecom and IT.
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The official statement by the government read that the government would auction a total of 72,097.85 MHz of spectrum in the auction set to be held at the end of July 2022. The auction will be across low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands.
According to the Notice Inviting Applications (NIA), the auction is slated to start on July 26. Other important dates are the pre-bid conference on June 20, the deadline for submission of applications on July 8, and the pre-qualification of bidders on July 18. Mock auctions will be held on July 22 and 23.
The government has set up private captive networks to enable development and innovations. It has also been stated that the 5G services will be 10 times faster than the existing 4G offerings.
This auction will pit India's top telecom Jio against second-place Airtel and the stressed company Vodafone as the auctions are said to be telecom friendly. The bidders will not have to pay upfront this time, rather the payments can be made in 20 equal annual installments to be paid at the beginning of the year.
Companies can also make full or part-payments within 10 days of declaration of their final price. Companies wishing to pay the amount over 20 years will attract an interest rate of 7.2% p.a. and can surrender the spectrum after 10 years with no future liabilities with respect to balance installments.
Article by Aman Agarwal.
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