New Delhi: India's telecoms watchdog on Monday recommended a 36% cut from its earlier proposed base price for the auction of a prime spectrum for 5G networks, signalling some relief to the country's cash-strapped telecom sector.
The move comes as India's government is gearing up for next-generation 5G airwaves auction later this year, which is expected to see participation from the country's three main carriers - Vodafone Idea, Bharti Airtel Ltd, and Reliance Industries Ltd's Jio.
The government is aiming to begin roll-out of 5G services by end-March 2023 in India, which is the world's second-biggest wireless market with over a billion subscribers.
The Telecom Regulatory Authority of India (TRAI) on Monday recommended a base price of 3.17 billion Indian rupees ($41.80 million) for the prime 5G frequency of 3300-3670 MHz band for use across the country. It had previously recommended a pricing of 4.92 billion Indian rupees ($64.88 million) for the same, which a telecom lobby group had described as 'unaffordable'.
Next-generation 5G networks, which can provide data speeds at least 20 times faster than 4G, are seen as vital for emerging technologies like self-driving cars and artificial intelligence.