New Delhi: The Union government has raised nearly $10bn in the auction of the country’s second-generation (2G) telecom licenses in the internet spectrum. The amount has far exceeded the target of $1.8bn and will reportedly be used to shrink the country’s deficit.
The leaders in acquiring the licences include Bharti Airtel, Vodafone and reliance Industries.
Indian telecoms minister Kapil Sibal said he was pleased with the strong take-up from the eight operators participating in the auction. However he added that the sale would only be judged a success if the groups ultimately rolled out services to the public at affordable tariffs.