Pan-India 3G bids reach US$2 billion on day 16

The price for a nationwide India 3G licence peaked at INR 89.14 billion (US$1.99 billion) on day 16, following 94 rounds of bidding in the government–run auction. In comparison, when 2G spectrum across the country was awarded, a pan-India licence cost only INR 16.51 billion.

Mumbai dominated the metro circles today achieving a top bid of INR 13.83 billion, followed by Delhi with INR 13.49 billion.

The government will receive at least INR 350 billion from the proceeds of the 3G auction, which is what it had originally estimated for both 3G and broadband wireless access (BWA). The BWA auction begins two days after the completion of the 3G auction.

Nine operators are participating in the bidding for 3G spectrum.