India’s 5G auction kicks off today. These are the companies in the race

• Bidders will include all the three major mobile operators in India: Reliance Jio, the market leader, Bharti Airtel and Vodafone Idea. The fourth contender was the surprise entry of Indian billionaire Gautam Adani.
• A total of 72 gigahertz of 5G spectrum will be on the block, for which winning bids will retain the rights for 20 years.
• In total, the four bidders have put up $2.7 billion (218 billion Indian rupees) in earnest money, the mandatory sum required to confirm a contract. The amount of earnest money deposited provides an indication of the amount of spectrum a company wishes to buy.

India’s 5G auction kicks off on Tuesday and four local companies will be in the race to bid for the country’s first 5G spectrum ahead of a planned rollout in 2023.

Bidders will include all the three major mobile operators in India: Reliance Jio, the market leader, Bharti Airtel and Vodafone Idea.

The surprise entry of Indian billionaire Gautam Adani as the fourth contender could still rock the boat.

5G refers to the fifth generation of high-speed mobile internet which promises super-fast download speeds that can support technologies like driverless cars and virtual reality.

A total of 72 gigahertz of 5G spectrum will be on the block, for which winning bids will retain the rights for 20 years.

In total, the four bidders have put up $2.7 billion (218 billion Indian rupees) in earnest money, the mandatory sum required to confirm a contract. The amount of earnest money deposited provides an indication of the amount of spectrum a company wishes to buy.

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