Reliance Jio Infocomm acquires spectrum in multiple bands for Rs 881bn

Reliance Jio Infocomm (Jio) has acquired spectrum in the 700MHz, 800MHz, 1800MHz, 3300MHz, and 26GHz bands for a 20-year period for INR 88,078 crores in the auctions held by the Indian government’s Department of Telecommunications.

Reliance Industries, the parent company of Jio said that the acquisition of the right to use the spectrum will allow it to build an advanced 5G network and further bolster India‘s position in wireless broadband connectivity.

The company claimed that the 5G network of Jio will facilitate the next generation of digital solutions that will expedite the artificial intelligence (AI) driven march towards becoming a $5+ trillion economy.

Reliance Jio Infocomm acquires spectrum in multiple bands for Rs 881bn. Photo courtesy of Nairspecht/Wikipedia.org.

Akash M Ambani — Reliance Jio Infocomm Chairman said: “We have 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.”