Mumbai: Jio, India’s largest digital services provider, today acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz and 26GHz bands in the auctions conducted by the Department of Telecommunications, Government of India to launch its 5G services across the country.
The acquisition of the right to use this spectrum will enable Jio to build the World’s most advanced 5G network and further strengthen India’s global leadership in wireless broadband connectivity. Jio’s 5G network will enable the next generation of digital solutions that will accelerate India’s AI-driven march towards becoming a US$ 5+ trillion economy.
Launched six years ago, Jio has created records during its roll out of the largest 4G network in the shortest period of time. It has got 400 million customers. Jio will now raise the bar even further with its 5G services.
Jio’s 5G solution is made in India, by Indians and to suit the need of every Indian. Jio is fully ready for 5G rollout in the shortest period of time because of its nationwide fibre presence, all-IP network with no legacy infrastructure, indigenous 5G stack and strong global partnerships across the technology ecosystem.
Shri Akash M Ambani, Chairman, Reliance Jio Infocomm said: “We always believed that India will become a leading economic power in the world by adopting the power of breakthrough technologies. This was the vision and conviction that gave birth to Jio. The speed, scale and societal impact of Jio’s 4G rollout is unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead India’s march into the 5G era.”
Jio is committed to leverage the advanced telecom facilities for expansion of and giving boost to crucial sectors like education, healthcare, agriculture, manufacturing and e-Governance.
Total cost of acquiring the right to use the above technology agnostic spectrum for a period of 20 years is Rs. 88,078 crore. As per terms of the spectrum auction, the spectrum payments have to be made over 20 equated annual instalments, with interest computed at 7.2% per annum.
