NEW DELHI: One of the richest men in Asia has joined the 5G spectrum race. Billionaire Gautam Adani’s Adani Group on Saturday confirmed that it will enter the race to acquire telecom spectrum.
The decision holds significance as he will compete directly with Mukesh Ambani’s Reliance Jio and Sunil Bharti Mittal’s Airtel.
“As India prepares to roll out the next generation of 5G services through this auction, we are one of the many applications participating in the open bidding process,” Adani Group said in a statement.
The Group, however, said that its “intention is not to be in consumer mobility space”, the spectrum will be used to create a private network to support its businesses from airports to power.
“We are participating in the 5G spectrum auction to provide private network solutions along with enhanced cyber security in the airport, ports and logistics, power generation, transmission, distribution, and various manufacturing operations,” the statement added.
Outlining its plan, Adani Group said, “Also, if we are awarded 5G spectrum in the open bidding, it will also align with our recent announcement of significantly increasing the Adani Foundation’s Investment in education, healthcare and skill development in rural areas.”
“In addition, as we build our own digital platform encompassing super apps, edge data centres, industry command and control centres, we will need ultra-high quality data streaming capabilities through a high frequency and low latency 5G network across all our businesses,” the Group said.
Four companies, including Airtel, Jio, Vodafone Idea and an Adani Group entity have so far put in applications to participate in India’s first auction of 5G airwaves starting July 26.
Industry sources believed that the news of Adani Group joining the bidding process could intensify the 5G battle.