Its what the USA uses, and I guess it works fairly well here. I guess India followed the law of how to run these auctions, but did not follow it in spirit, messing things up(I'm guessing politicians fiddled with it) and led to the bad outcome.
We've only got 3.5 networks to choose from, competition on price is mediocre. It's more competitive than residential networks in most of the country, but that's not saying much.
