AFP, New Delhi :
The government of Indian Prime Minister Narendra Modi Wednesday approved a mega auction of mobile phone radiowaves, hoping to scoop about $85 billion from the sale of licenses in the world’s second-largest market.
The new mobile radiowave spectrums on auction are seen as crucial for companies competing in the lucrative but cut-throat Indian market of a billion mobile subscribers.
“This may be the largest ever auction in the history of the country,” said Finance Minister Arun Jaitley at a press conference.
More than 2,300 mhz of spectrum would be available for auction across seven bandwidths and based on their reserve price, the government is looking to mop up $85 billion against the $17.6 billion received last year.
But a decision on spectrum usage charges, which has divided stakeholders, was deferred with the matter being referred to the telecom watchdog.
The government of Indian Prime Minister Narendra Modi Wednesday approved a mega auction of mobile phone radiowaves, hoping to scoop about $85 billion from the sale of licenses in the world’s second-largest market.
The new mobile radiowave spectrums on auction are seen as crucial for companies competing in the lucrative but cut-throat Indian market of a billion mobile subscribers.
“This may be the largest ever auction in the history of the country,” said Finance Minister Arun Jaitley at a press conference.
More than 2,300 mhz of spectrum would be available for auction across seven bandwidths and based on their reserve price, the government is looking to mop up $85 billion against the $17.6 billion received last year.
But a decision on spectrum usage charges, which has divided stakeholders, was deferred with the matter being referred to the telecom watchdog.
