Tech-Business

5G Spectrum Auction : Reliance Jio top bidder with Rs 88,078-crore offer

New Delhi:

Digital services provider Reliance Jio on August 1 acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the 5G auctions conducted by the Department of Telecommunications, Government of India.

Jio has acquired a unique combination of low-band, mid-band, and mmWave spectrum, which coupled with the company’s deep fibre network and indigenous technology platforms, will let it provide 5G everywhere and to all. With this, the company has consolidated its leadership position in all 22 circles and enabled Jio to become the only operator providing “True 5G services across India”.

The total cost of acquiring the right to use the technology agnostic spectrum for a period of 20 years is Rs 88,078 crore. As per terms of the spectrum auction, the spectrum payments will have to be made over 20 equated annual instalments, with interest computed at 7.2 percent per annum.

The acquisition of the right to use this spectrum will enable Jio to build an advanced 5G network and strengthen the country’s wireless broadband connectivity further. Jio’s 5G network will also “enable the next generation of digital solutions that will accelerate India’s AI-driven march towards becoming a $5+ trillion economy”, the company said in a release.

It added: “Jio 5G will ensure that every Indian gets to access the most transformative digital services and platforms offered anywhere in the world. Jio’s 5G solution is made in India, by Indians and to suit the need of every Indian. Jio is fully ready for 5G rollout in the shortest period of time because of its nationwide fibre presence, all-IP network with no legacy infrastructure, indigenous 5G stack and strong global partnerships across the technology ecosystem.”

(Edited from money control)

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