SpaceX India: The Indian telecom industry, which is currently dominated by Mukesh Ambani's company Reliance Jio, could get fierce competition from the world's richest man Elon Musk.
As per the report, Elon Musk's company, Space Exploration Technologies Corporation (SpaceX) Starlink project is expected to enter India. Likewise, there will be major changes in the Indian telecom industry.
Initially, the SpaceX company is trying to enter India with 100 Mbps satellite-based internet service. The company is expected to start its service in countries like India and China with a market of 1 trillion dollars.
Elon Musk seeks permission's approval
According to the report, Elon Musk has sought permission from the Government of India to operate satellite-based broadband technology in India.
The Telecom Regulatory Authority of India has released a consultation paper in August last year to promote broadband connectivity in India.
Thus, SpaceX's Satellite Government Affairs Patricia Cooper said that StarLink's high-speed satellite network will help in the goal of connecting all people in India with broadband connectivity.
India is a huge internet user market with 700 million internet subscribers and the number is expected to increase to 974 million by 2025. The current average internet speed in India is 12 Mbps.
However, with the fact that 5G is soon coming, the internet speed is likely to increase in India. But it may take time to reach fast internet service in villages while it could be completed soon with SpaceX's Starlink project. It will provide speeds up to 150 Mbps at a lower price.