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5G auction process echoes govt's proactiveness in 'Ease of Doing Business': FICCI
New Delhi: The recently concluded auction of the 5G spectrum echoed the robustness and confidence of the telecom sector as well as the proactiveness of the government when it comes to 'Ease of Doing Business', said industry body FICCI.
"The 5G auction process was one of the smoothest, fastest, and most efficient spectrum allocation processes," it said in a statement hours after the spectrum for 5G was allocated to the telecom operators. The government on Thursday issued spectrum allocation letters to telecom service providers while asking them to prepare for the rollout of 5G services.
"5G update: Spectrum assignment letter issued. Requesting TSPs to prepare for 5G launch," Union Minister for Communications, Electronics and Information Technology, Ashwini Vaishnaw said.
With this spectrum allotment, India is in the final stage of rolling out high-speed 5G telecom services.
"The ease, speed and transparency of the 5G spectrum auction process is a live example of much-improved 'Ease of Doing Business', thanks to attention from the highest levels of Government on bringing about real change," said Subhrakant Panda, Senior Vice President at FICCI.
Panda further said the mobile industry is expected to play a vital role in India's vision to be a USD 5 trillion economy by 2025, of which USD 1 trillion will be the sole contribution from the digital economy segment.
What is 5G, and how is it different from the current 3G and 4G services?
5G is the fifth-generation mobile network capable of transmitting a large set of data at a very rapid speed.
In comparison to 3G and 4G, 5G has a very low latency which will enhance user experiences in various sectors. Low latency describes the efficiency to process a very high volume of data messages with a minimal delay.
The 5G rollout is also expected to bring more development in remote data monitoring in sectors such as mining, warehousing, telemedicine, and manufacturing, among others.
Who were the participants in the auction?
Reliance Jio, Adani group, Bharti Airtel, and Vodafone Idea are the four major participants in the spectrum auction.
How much revenue did the government make from the auction?
- Department of Telecom received total bids worth Rs 1.50 lakh crore from the recently concluded auction.
- Revenue from the auctions was initially estimated to be Rs 80,000-90,000 crore.
- 5G services are expected to be about 10 times faster than 4G.
- High-speed 5G telecom services are expected to be offered in several cities in the county by the end of the year 2022.
Adani Group forays into the telecom sector:
- This is the first time that the Gautam Adani-led Adani group, which recently forayed into the telecom sector, participated in the bidding process of the 5G telecom spectrum auction. (ANI)