The Telecom Regulatory Authority of India (TRAI) in its reaction to the Supreme Court verdict canceling all the 122 spectrum licences awarded in a 2008 has said that this could affect less than 5 percent mobile subscribers of India.

In an interview to the leading English news channel, the TRAI chief JS Sarma said, “, "We will have to apply our minds on fixing reserve price and will have a consultation paper shortly."

He said that the affected subscribers could be transferred to other mobile operators. He however did not dwell on the refund of licence fee without seeing the judgment. 

Sarma said now that the licences have been cancelled there would be additional spectrum available for auction and that prospects of FDI will be even brighter now.