India to auction 5G airwaves in 2022 in boost to tech economy

India's Finance Minister Nirmala Sitharaman holds up a folder with the Government of India’s logo as she leaves her office to present the federal budget in the parliament in New Delhi, India, February 1, 2022. REUTERS/Anushree Fadnavis

NEW DELHI (Reuters) - India's budget for fiscal 2022-23 gave a thrust to its technology sector, with the finance minister announcing a plan to auction 5G airwaves this year, and pushing for the design and wider local manufacturing of telecoms and electronics products.

The airwaves auction in India, the world's second-biggest wireless market with over a billion subscribers, will kick off a rollout of next-generation 5G telecoms services by end-March 2023, Finance Minister Nirmala Sitharaman told parliament as she presented the country's budget on Tuesday.