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5G spectrum auction : Reliance Jio acquired spectrum for 20 years at Rs 88,078 crore

Business News. Telecom market leader Reliance Jio has acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands for 20 years at a cost of Rs 88,078 crore in India’s first 5G spectrum auction.

“Jio has acquired a unique combination of low-band, mid-band and mmWave spectrum, which coupled with our deep fibre network and indigenous technology platforms, will enable us to provide 5G Everywhere and 5G For All (consumers and enterprises),” the telco said in a statement Monday.

The spectrum acquisition in the 700MHz band will help it provide pan-India true 5G services with faster speeds, lower latency and massive connectivity. “Jio’s 5G network will enable the next generation of digital solutions that will accelerate India’s AI-driven march towards becoming a US$ 5+ trillion economy,” the statement added.

Jio’s 5G solution is made in India, by Indians and to suit the need of every Indian. Jio said it is fully geared up 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”.

“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 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.

“We will provide services, platforms and solutions that will accelerate India’s digital revolution, especially in crucial sectors like Education, Healthcare, Agriculture, Manufacturing and e-Governance and make another proud contribution to Honourable Prime Minister’s Digital India Mission,” Ambani added.

Through the spectrum acquisition in the auction, Jio’s total owned spectrum footprint has increased significantly to 26,772 MHz (uplink+downlink), which is the highest in India.

The government has sold 71% of the total spectrum put up for sale in India’s first ever 5G spectrum auction, raising Rs1,50,173 crore. Of the total 72.098 GHz of airwaves on the block, 51.236 GHz was picked up among the four bidders. As per terms of the spectrum auction, the spectrum payments have to be made over 20 equated annual installments, with interest computed at 7.2% per annum.

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