Indian billionaires Mukesh Ambani and Sunil Bharti Mittal will be locking horns with their western counterparts Elon Musk and Jeff Bezos.
Indian billionaires Mukesh Ambani and Sunil Bharti Mittal will be locking horns with their western counterparts Elon Musk and Jeff Bezos. All four prominent businessmen eye a major chunk of the satellite communications market in India, estimated at $2.3 billion in 2023. Mukesh Ambani's Reliance Jio and Sunil Mittal's Bharti Airtel are the top Indian companies in fray along with the third telecom giant Vodafone Idea (VI). They will face competition from Elon Musk's Starlink and Jeff Bezos' Amazon.
The Indian satellite communications market is pegged to reach $5.71 billion in the next 5 years by 2028, according to Mordor Intelligence. Telecom billionaire Sunil Bharti Mittal recently made a massive investment with OneWeb India getting the nod from the Indian National Space Promotion and Authorization Centre (IN-SPACe) to launch commercial satellite broadband services with Eutelsat OneWeb. The Mittal-backed firm thus becomes the first company to get IN-SPACe.
Mukesh Ambani’s Jio has entered a partnership with Luxembourg-based SES Satellites. Ambani’s Jio plans to provide high-speed broadband internet services to inaccessible geographies in India with the satellite-based gigafiber service called JioSpaceFiber. The two Indian billionaires will be directly in competition with Musk whose Starlink is one of the global leaders in the domain. Amazon's Project Kuiper is Jeff Bezos answer to his billionaire rivals.
There, however, is a lack of consensus among private players on spectrum distribution. While the government is keen to take the licensing approach, Ambani’s Jio is in the favour of spectrums to be auctioned in order for it to be a level playing field for Indian players versus overseas counterparts. Meanwhile, the Telecommunications Bill, 2023, which provides the route to allot spectrum through a non-auction path was passed in Lok Sabha on Wednesday.
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 "Mukesh Ambani, Sunil Mittal to rival Elon Musk, Jeff Bezos in Indian sector pegged to reach $5.7 billion by 2028")
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