Critics of the high reserve prices imposed for India’s largest ever spectrum auction have been justified. The sale ended after just five days with 40% of the airwaves unsold, and with the government netting only INR657.8bn ($9.8bn), rather than the targeted INR5.6 trillion ($83.9bn). Largely left on the shelf were the supposedly ‘beachfront’ 700 MHz licences, as well as 900 MHz spectrum. In a country of intense competition and rock-bottom ARPUs, the reserve prices proved too much for most operators, and the push for more Treasury income could, once again, deliver a setback to India’s hopes of significant mobile broadband progress. The huge auction was offering a total of 2,354 MHz of spectrum across the 700 MHz, 800 MHz, 900…