India will soon get 5G services. The Union Cabinet has approved the Department of Telecommunications' 5G spectrum auction, through which spectrum would be allocated to bidders for the provision of 5G services to the general public and businesses.
The cabinet claims that the 5G network's speed will be around 10 times greater than those of the current 4G services.
A total of 72097.85 MHz of spectrum with a 20-year validity will be placed up for auction by the end of July 2022.
The cabinet also stated that, for the first time, successful bidders are not required to make an advance payment. Spectrum payments can be made in 20 equal annual instalments, payable in advance at the start of each year. The bidders would have the option to surrender the spectrum after ten years with no obligation to pay any remaining balance instalments.