Reliance Jio top bidder with Rs 88,078 cr bid for 5G; Adani acquires airwaves worth Rs 212 cr
New Delhi, Aug 1: Billionaire Mukesh Ambani's Reliance Jio on Monday emerged as the largest bidder for the 5G spectrum, acquiring close to half of all the airwaves sold in the latest auction for Rs 88,078 crore.
According to Telecom Minister Ashwini Vaishnaw, the Adani group bought 400 MHz, or less than one per cent of all spectrum sold, for Rs 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.
A single towner can cover more area if 700 Mhz is used.
Telecom tycoon Sunil Bharti Mittal's Bharti Airtel bought a 19,867 MHz airwave across different bands for Rs 43,084 crore.
Vodafone Idea Ltd bought spectrum for Rs 18,784 crore.
In all, Rs 150,173 crore of bids were received, Vaishnaw said.
Of the 72,098 MHz of spectrum offered across 10 bands, 51,236 MHz, or 71 per cent, was sold.
The government, he said, in the first year will get a Rs 13,365 crore payment for the spectrum.
He also said the 5G services could be launched by October.
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PM Modi holds talks with French President Macron in Mumbai
New Delhi (PTI): Prime Minister Narendra Modi on Tuesday held wide-ranging talks with French President Emmanuel Macron to boost ties in key sectors such as trade, defence, energy and critical technologies.
Macron landed in Mumbai early this morning on a three-day visit to attend the AI Impact Summit in New Delhi and meet PM Modi.
After the talks with Modi, Macron will attend a ceremony to launch the India-France Year of Innovation.
His visit comes days after India cleared a long-pending proposal to procure 114 Rafale fighter jets under a government-to-government framework with France.
It has been billed as one of the world's biggest military procurement programmes in recent years.
It is learnt that shoring up defence cooperation and enhancing bilateral engagement in the critical technology sector are priority areas to take forward the ties.
"Welcome to India! India looks forward to your visit and to advancing our bilateral ties to new heights. I am confident that our discussions will further strengthen cooperation across sectors and contribute to global progress," Modi said on social media earlier in the day in response to a post by Macron.
