Reliance Jio set to lead India’s march into 5G era
Mukesh Ambani's Jio is all set to lead India's 5G revolution as the company has acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the latest auctions conducted by the Department of Telecommunications (DoT), Government of India.
The total cost of acquiring the right to use the above technology agnostic spectrum for a period of 20 years is Rs. 88,078 crores, the company said in a press release on Monday.
"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 Shri Akash M Ambani, Chairman, Reliance Jio Infocomm.
Bharti Airtel, on the other hand, has acquired 19,800 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands through the auction for Rs 43,084 cr. Spectrum secured for 20 years.
"Airtel is delighted with the results of the 5G auction. This spectrum acquisition at the latest auction has been a part of a deliberate strategy to buy the best spectrum assets at a substantially lower relative cost compared to our competition. This will allow us to raise the bar on innovation and address the emerging needs of every discerning customer who demands the best experience in India. We are confident that we will be able to deliver the best 5G experience in India in terms of coverage, speeds and latency," said Gopal Vittal, M.D & CEO, Bharti Airtel.