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Hold 5G Auction 3-5 Years from Now: PHDCCI

The right time to set up Telecom Finance Corporation, says PHDCCI president

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A day after submitting its recommendations for the upcoming Union Budget 2020, the PHD Chamber of Commerce and Industry, one of the leading industry associations said it has proposed holding the auctions for 5G spectrum at least 3-5 years from now so as to get the proper value of the 5G spectrum.

Sanjay Aggarwal, Senior Vice President, PHD Chamber of Commerce, said, “It is in the best interest of the government to not expedite 5G process. They will get more value if they sell it after three years.” He added that the Indian government needs to chip in domestic line of credit for telcos, which could be financed by the international players.

In its budget recommendations, PHD Chamber of Commerce suggested that it was the right time to launch 'Telecom Finance Corporation' that can provide domestic line of credit funding to telcos to procure domestic PMI compliant equipment.

D K Aggarwal, President, PHD Chamber of Commerce stated, “By the end of this year or by the next year, the 5G broadband would be a reality.” “5G technology will further help in the digitization by the adoption of digital technologies like Internet of Things, cloud computing and thus will make India a global manufacturing hub,” he added.

Both President and the Vice President of PHDCCI were speaking at an event on Thursday organized to announce the launch of upcoming Telecom Summit 2020 scheduled to be held on January 21 at Vigyan Bhawan in the capital. The theme for the said event is ‘5G Technology: Forging ahead into a smarter India'.

Dignitaries present at the event included N K Goyal, Chairman, TEMA; Sandeep Aggarwal, Chairman, Telecom Committee, PHDCII; Alok Mukherjee, Co-Chairman, PHD Telecom Committee; D K Aggarwal, President, PHDCCI; Sanjay Aggarwal, Sr Vice President, PHDCCI.