A man checks his mobile phone as he walks past a shop displaying the Vodafone logo on its shutter in Mumbai January 15, 2014.
Credit: /Danish Siddiqui/Files
- India's top three mobile operators scooped up almost 80 percent of the country's airwaves in fierce competition, spending $13.6 billion in the latest round of spectrum auctions that raised a record $17.6 billion.
The heavy bidding by the large operators underscores their big bets on the potential for mobile data in the world's fastest growing smartphone market.
The three operators bought airwaves worth a total 855.75 billion rupees ($13.66 billion), or about 78 percent of the total airwaves sold in the auction, telecoms minister Ravi Shankar Prasad said on Thursday.
India raised $17.6 billion from the auction after 19 days of fierce bidding, of which the government expects to receive about 288.72 billion rupees in initial payments, Prasad said.
"I would very earnestly appeal to the companies that national revenue is equally important for growth and India's image," the minister said, appealing to winning bidders to submit initial payments before the current fiscal year ends on March 31.
Spectrum revenue is crucial for the government to meet its ambitious fiscal target. The winners have until April 4 to make the upfront payment.
Idea Cellular, India's third-biggest mobile operator by market share, spent 303.06 billion rupees in the auction, the single biggest amount spent.
Market leader Bharti Airtel paid 293.10 billion rupees, while Vodafone Group India unit spent 259.59 billion rupees, according to figures provided by the minister.
Cash-rich Reliance Industries' telecoms unit spent 100.77 billion rupees before a widely anticipated commercial launch later this year.
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