(11 July 2008 9:30 pm)

MUMBAI: The Telecom Regulatory Authority of India (Trai) has agreed to the Department of Telecom’s (DoT) proposal to hike the base price for the third generation (3G) spectrum auction.

The DoT's proposal was to hike the floor price for the auction to Rs 22 billion. Earlier, Trai was against lifting the minimum price up, fixed at Rs 14 billion for a pan-India licence.

The DoT had asked Trai to reconsider its stance on the floor price and the entry of new players in the bidding process of 3G spectrum.