The 3G auction has worked out better than expected for the Government. Not only have the bids gone up with each round of bidding its looking like the overall collections would easily exceed government expectation. The last round of bidding which took place on thursday i.e. yesterday took the bidding beyond 2 billion $ i.e. 9000 crores. The value of 3G spectrum moved up to Rs 9,330 crore.
Mumbai which had overtaken Delhi recently continued to lead the auctions with a bid of Rs 1,491 crore while delhi was at a bid of Rs 1,431 crore.
Its reported that Communications and IT Minister, Mr A. Raja, said that the bidding process will be completed in one or two days after the completion of the 17th day of the bidding process. The month of April has seen several bidders join the fray for what should be called as the most awaited auction in India’s telecom history.
As the auction comes to an end soon most the industry circles would start being abuzz on what would be the impact of these 3G auctions and by when would most players roll out their respective 3G services. Expect innovative products from telco’s to lure the customer.