The Telecom Minister of India has said the auction of airwaves to offer third-generation mobile services will be concluded by the end of the financial year, making it clear that the government will miss the December 7 date to hold the auctions originally scheduled for 2007.
The 3G auctions are expected to generate Rs.25,000 Crores ($5 billion) in revenue for the Indian Government.
The Minister also confirmed that the successful 3G bidders will also be allotted 2G airwaves. This was a major demand of foreign telecom companies looking to take part in the 3G auction that has been delayed several times since 2007 due to reasons ranging from infighting between ministries to the failure of the government and telecom regulator TRAI to agree on terms of the auctions.
Souce: The Economic Times.