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Adani Group preparing to enter telecom business, 5G spectrum will be auctioned on July 26

Asia’s richest man Gautam Adani is all set to enter the telecom business. According to media reports, Adani Group is participating in the 5G spectrum auction. Adani Group has applied to participate in the 5G spectrum auction on July 8, which was the last day for applications.

Now if Adani Group enters the telecom business by acquiring spectrum in 5G spectrum auction, then it will have a direct competition with Reliance Jio and Airtel.

Adani Group preparing to enter telecom business, 5G spectrum will be auctioned on July 26

Let us tell you that Union Minister Ashwini Vaishnav has said last month that by March 2023, India will start getting 5G service, which will be 10 times faster than 4G. He said the auction of a total of 72 GHz spectrum with a validity of 20 years would be completed by the end of July.

5G spectrum will be auctioned on July 26

The last date of application to participate in the 5G spectrum auction was till July 8, 2022, which has passed. After this, the list of bidders will be released by the government on July 20 and 5G spectrum will be auctioned on July 26.

There will be a direct competition with Reliance Jio and Airtel

If Adani Group enters the telecom business by acquiring spectrum in 5G spectrum auction, it will face direct competition from Mukesh Ambani’s Reliance Jio and Sunil Bharti Mittal’s Airtel.

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