Bids for an all-India license to offer 3G services reached 56.2 billion rupees ($1.3 billion) on the seventh day of auction, according to a statement on the department of telecommunications Web site. This amount is approximately 63% higher than the total Rs.35 billion, that was estimated to be gathered before the commencement of the auction.
On day seven of the 3G spectrum auction, 6 more rounds were completed making the total number of rounds to 40.
Nine mobile-phone carriers including Vodafone Group Plc, the world’s largest, and Bharti Airtel Ltd., India’s biggest, are vying for the spectrum to offer third-generation services in the world’s second-largest wireless market by subscribers.
The government is auctioning spectrum for operating 3G services in India’s 22 designated telephone zones. It plans to sell 93 licenses to provide high-speed data to mobile phones and computers that may raise an estimated 500 billion rupees, helping reduce the nation’s fiscal deficit.