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5G Spectrum Auction Enters Day 2 With Rs 1.45 lakh Crore Bids On Day 1

Analysts said Ambani's Reliance Jio may be the most aggressive of those in the race

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With better than expected Rs 1.45 lakh crore bids coming in on the first day, the auction of 5G spectrum entered the second day on Wednesday with the opening of the fifth round.

Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea are participating in the e-auction to buy fifth-generation (5G) airwaves.

The government received confirmed spectrum bids worth Rs 1.45 lakh crore after the completion of four rounds of spectrum bidding on the opening day on Tuesday.

Analysts said Ambani's Reliance Jio may be the most aggressive of those in the race.

Mahendra Nahata, MD, HFCL said, "With 5G spectrum auctions becoming a success, we are excited about the 5G rollout becoming a reality soon and the vast opportunity that will unfold for Indian enterprises and consumers. The launch of the 5G network will enable telecom operators to start providing a new generation of high bandwidth services to customers. 5G will allow enterprises to embark on the Industry 4.0 journey, and it will help accelerate digital transformation across industries spanning manufacturing, retail, utilities, smart cities and more. The 5G revolution would contribute significantly in achieving our honourable PM's vision of India becoming a USD 5 trillion economy, and it will aid in bridging the digital divide — thus making various services like healthcare, education, financial services, e-commerce & entertainment accessible to the bottom of the pyramid."

"HFCL has been on a transformation journey to become a leading high-tech enterprise and integrated next-gen communication product provider, with 5G being a key focus area. As we move forward, we are entering into a multi-year upcycle for telecom and network implementation. We are optimistic that our investments in 5G will further enable us to tap into the massive opportunity in India and key global markets. As one of India's leading telecom equipment and optical fibre cables manufacturer, 5G rollout will open up the opportunity to offer our clients more end-to-end solutions with open source technology. We are already seeing strong demand for our products & integrated network solutions and plan to further leverage our capabilities to tap new products, new customers and new geographies", he added.

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