The high-end phones and fancy mobile applications will soon be a reality. In a two hour long meeting on Thursday, the telecom minister A Raja finalised the 3G spectrum policy, which could be announced as early as next week.
Under this policy, apart from existing operators, new entrants including foreign players will be allowed to bid for the high end 3G spectrum.
According to sources, the Department of Telecommunications (DoT) does not want to get involved in the auction of spectrum. DoT is likely to set up an SPV and may rope in an international agency to carry on the auction. In order to keep things transparent, the auction may take place online.
The pricing of these precious airwaves could be done according to Telecommunications Regulatory Authority of India's recommendations. The reserve price for spectrum in category A circles like Mumbai and Delhi will be about Rs 80 crore, Rs 40 crore for category B circle, and Rs 15 crore for category C circle.
The 3G auctioning will provide companies who have missed the telecom bus in India, a chance to enter the world's fastest growing telecom market, except that they have to be ready to shell out some serious money.