Key Takeaways
- Reliance Industries, led by Mukesh Ambani, has stated it welcomes competition from Starlink.
- Jio Platforms, Reliance's digital unit, is seeking a $108 billion valuation in India's largest IPO.
- Starlink has been working with Indian regulators for over five years and has built dedicated infrastructure.
Indian billionaire Mukesh Ambani's Reliance Industries has issued its first public statement regarding Elon Musk's Starlink, welcoming competition and clarifying that its own satellite services are also awaiting necessary clearances.
The statement, released on Friday, comes days before Jio Platforms, Reliance's digital unit, seeks a $108 billion valuation in India's largest initial public offering (IPO) to date.
Musk, the world's richest man, has accused the Indian government and Ambani of stalling Starlink's efforts to launch in India, a market with over a billion internet subscribers.
India has denied any bias in its approval process, stating that Starlink, Jio's satellite internet arm, and Bharti-backed Eutelsat OneWeb have been licensed to operate services but lack the necessary security clearance to launch.
Starlink responded on Friday, stating that it has worked with Indian regulators and the industry for over five years, building dedicated systems, gateways, and other infrastructure with required government approvals.
Musk, in a separate post, expressed appreciation for Reliance's statement, saying, 'Much appreciated'.
Reliance's statement emphasized that it has never feared competition and aimed to place the facts on record regarding 'remarks about Reliance and the Indian market'.
Satellite broadband could significantly help connect hundreds of millions of Indians, particularly in rural and remote areas, where internet access remains limited.
Musk has indicated that Starlink would price its services affordably in India to compete with Jio's low-cost internet plans, which have been crucial in building Jio's presence in the country.
Much appreciated
Elon Musk, CEO of SpaceX and Tesla
