The 5G spectrum auction saw bids worth Rs 1,49,855 crore after 23 rounds on Friday, with the government saying the bids will continue on Saturday.
The bids for 5G airwaves are being led by Reliance Jio, followed by Bharti Airtel, Vodafone-Idea and a Gautam Adani company.
According to Union IT Minister Ashwini Vaishnaw, the cumulative bid on Day 3 (Thursday) had reached Rs 1,49,623 crore.
Vaishnaw said that the ongoing 5G spectrum auction indicates that the country's telecom industry has come a long way in 5G advancements.
He said that the industry has emerged to become a sunrise industry in India and a benchmark for the world.
As India prepares for the 5G era, the installed base of smartphones with 5G capabilities crossed 5 crore in the country, according to Counterpoint Research.