India approves auction of telecom spectrum at reserve price of $11.6bn

A total 10 GHz of radiowaves is up for sale in this year's auction

Reuters
Published : 9 Feb 2024, 00:59 AM
Updated : 9 Feb 2024, 00:59 AM

India on Thursday approved the auction of telecom spectrum at a total reserve price of 963.2 billion rupees ($11.61 billion), the information minister told reporters.

A total 10 GHz of radiowaves is up for sale in this year's auction, according to a government statement, much lower than the previous year as telecom firms have acquired enough to meet most of their bandwidth requirements in the previous auction.