Reliance Jio Tops 5G Bid
Jio acquired close to half of all the airwaves sold in the latest auction for INR 88,078 crore
Reliance Jio emerged as the largest bidder for the 5G spectrum, on Monday, acquiring close to half of all the airwaves sold in the latest auction for INR 88,078 crore. Jio acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the auctions conducted by the department of telecommunications, government of India.
"We have always believed that India will become a leading economic power in the world by adopting the power of breakthrough technologies. This was the vision and conviction that gave birth to Jio. The speed, scale and societal impact of Jio's 4G rollout is unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead India's march into the 5G era," said Akash M Ambani, chairman, Reliance Jio Infocomm in a statement.
According to reports, the Adani group bought 400 MHz, or less than one per cent of all spectrum sold for INR 212 crore. While Adani group bought spectrum in the 26 GHz band, which is not for public networks, Jio acquired spectrum across several bands, including the coveted 700 MHz band that can provide 6-10 km of signal range and forms a good base for fifth generation (5G) in all 22 circles in the country. Sunil Bharti Mittal's Bharti Airtel bought a 19,867 MHz airwave across different bands for INR 43,084 crore. Vodafone Idea Ltd bought spectrum for INR 18,784 crore.
The acquisition of the right to use this spectrum will enable Jio to build an advanced 5G network and further strengthen India's global leadership in wireless broadband connectivity. Jio's 5G network will enable the next generation of digital solutions that will accelerate India's AI-driven march towards becoming a $5-plus trillion economy.
"We will celebrate 'Azadi ka Amrit Mahotsav' with a pan India 5G rollout. Jio is committed to offering world-class, affordable 5G and 5G-enabled services. We will provide services, platforms and solutions that will accelerate India's digital revolution, especially in crucial sectors," the chairman added in the statement.