Bids for nationwide 3G mobile spectrum licences in India reached Rs 150 billion ($3.33 billion) on the 29th day of an auction, an indication the government could earn revenue of more than Rs 600 bi

Bids for nationwide 3G mobile spectrum licences in India reached Rs 150 billion ($3.33 billion) on the 29th day of an auction, an indication the government could earn revenue of more than Rs 600 billion from the sale.

The bids for the pan-India licenses have far exceeded the government’s base price of 35 billion rupees. 

As of Thursday, 162 rounds of bidding had been completed, the Department of Telecommunications (DoT) said on its website. Nine mobile operators, including Bharti Airtel , Reliance Communications and Vodafone’s Indian unit, are participating in the auction. 

When the 3G auction is concluded, the Indian government will commence the auction of its 4G BWA spectrum in the 2.3 GHz band.

For complete details check 3G Auction Update: 14th May 2010