Adani Group planning to enter telecom spectrum race Tamil News: It will be a direct competition with Ambani if Adani participates in the auction for 5G spectrum for high-speed Internet connectivity on July 26.
5G Spectrum auction Tamil News: 5G service is seen as the biggest revolution in the history of telecommunication. The auction for this high-speed internet connection (5G) for telecommunication service providers will be held on 26th. It was reported that companies including Mukesh Ambani’s Jio and Mittal’s Airtel will compete in this. In this case, in a sudden twist, there are reports that Gautam Adani is also going to participate in this 5G auction.
India’s richest men face to face
Adani Group Chairman Gautam Adani and Reliance Industries Managing Director Mukesh Ambani round out the top 10 on the list of the world’s richest people. There is a fierce competition between the two for the status of the No. 1 richest man in the Asian continent.
Currently, Mukesh Ambani is the No. 1 richest person in Asia. His net worth is USD 99.7 billion, while Adani is at the 2nd position with a total net worth of USD 98.7 billion, according to a report by “Bloomberg Real Time Billionaire”. These two rich people from the state of Gujarat are making their footing in many fields.
Although the two did not go head-to-head until recently, Adani has been expanding its business from oil and petrochemicals to telecom and retail. He is also diversifying from the ports segment into coal, energy distribution and aviation. Among these fields, Mukesh Ambani’s father, Dhirubhai Ambani, has been a part of the Koluchi family since the time.
Adani has unveiled plans to become the world’s largest renewable energy producer by 2030. Ambani has also announced multibillion-dollar projects for new energy businesses, including solar panels, batteries, green hydrogen and Ziga factories for fuel cells.
In this case, it will be a direct competition with Ambani if Adani also participates in the auction for high-speed internet connection 5G spectrum on July 26.
What are the bidding terms?
Last month, the cabinet approved the auction of 5G spectrum at the reserve price recommended by the Telecom Regulatory Authority of India (TRAI). The regulator had recommended a reduction of around 39 per cent in the floor price for sale of 5G spectrum for mobile services.
Accordingly, the auction will be held on the 26th. In this, 73 gigahertz of spectrum is being auctioned for 20 years. Telecom companies like Jio, Airtel and Vodafone Idea are participating in this auction.
Overall, payment norms for bidders are relaxed in the upcoming auction.
For the first time, successful bidders are not required to pay upfront.
The charges for 5G spectrum can be paid in 20 equal annual installments. Advance payment must be made at the beginning of each year. This is expected to significantly ease liquidity requirements and reduce the cost of doing business in this sector.
Bidders will be given the option to hand over the 5G spectrum to the government after 10 years. No SUC (Spectrum Usage Charge) will be levied on spectrum acquired in this auction.
A notice inviting bids will be issued when 5G spectrum in nine frequency bands will be auctioned to telecom operators. The tender document issued by the telecom department also said that tech companies will be allowed to lease 5G spectrum from telcos for their non-captive public network.
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