India's carriers need to find ways to foot bill for spectrum

New Delhi

CALLERS used to paying less than one cent a minute in India may get a jolt from their monthly bills after the nation's mobile-phone companies agreed to spend US$18 billion buying airwaves from the government.

Seven of the country's wireless carriers need to find ways to foot the bill for spectrum bought during a 19-day auction that concluded last week. As much as a third of their bids must be paid by next week, with the rest being due in instalments starting in two years.