Reliance Industries on Friday responded to Elon Musk’s criticism over Starlink’s entry into India, saying it has never feared competition and that all satellite communication service providers, including Indian and foreign companies, must comply with the country’s laws and policies.
In a statement, the company said the Indian government follows the same regulatory process for every applicant, irrespective of whether it is domestic or international. It added that Jio’s own satellite services were also awaiting the necessary clearances.
“In light of recent remarks about Reliance and the Indian market, we wish to place the facts on record. Like every Indian enterprise, Reliance has grown in an India that welcomes investment and innovation, homegrown or international, that improve the lives of the people,” the company said.
Reliance Says Jio’s Satellite Services Also Await Clearances
Addressing the controversy, Reliance said it welcomed competition in satellite communications, including from Musk’s Starlink, but stressed that all players must operate within India’s regulatory framework.
“That openness rests on the rule of law. As the Government of India has stated, it applies the same process to every applicant, Indian or foreign. Jio’s own satellite services await clearances,” the statement said.
The company cited Jio’s entry into the telecom sector in 2016 as an example of its approach to competition. It said Jio entered the market without a single customer and had since built a base of more than 530 million subscribers, while expanding access to digital infrastructure and affordable data.
“At Reliance, we have never feared competition. We see it as the truest test of who serves the customer best,” the company said, reiterating that Jio and every other player must serve Indian consumers while abiding by the country’s laws and policies.
Statement Released Days Before Jio IPO Launch
The statement comes just days before Reliance is set to launch Jio’s IPO next week. The remarks are likely to boost market sentiment and renew buyer confidence. Reliance shares rose nearly 3 per cent yesterday after Jio set its IPO price band at Rs 1,065– Rs 1,119 per share.
The Rs 30,213 crore fresh issue will open for subscription on October 21, with a minimum investment of Rs 13,428 for 12 shares. The public issue will remain open until October 23, while anchor investors can bid on October 19, according to Reliance’s regulatory filings. The IPO committee of Jio Platforms’ board approved the price band at its meeting on Wednesday.
Musk Questions Delay In Starlink’s India Entry
The statement follows a public exchange between Musk and the Indian government over the regulatory process for Starlink, the satellite broadband arm of his aerospace company SpaceX. On October 7, Musk criticised the hurdles facing Starlink’s entry into India and alleged that 'certain oligarchs' were obstructing the company’s efforts to secure spectrum access.
The Union communications ministry rejected the allegations on October 8, describing claims of discrimination as 'baseless and misconceived'. It said India’s satellite communications framework was fair and non-discriminatory, adding that security assessments of three entities were underway and that all were at broadly the same regulatory stage.
Musk later renewed his criticism, saying Starlink was licensed to operate in more than 165 countries and had spent five years complying with Indian rules. Reliance’s response emphasised that the company supports competition in the satellite communications market, while maintaining that regulatory requirements must apply equally to all applicants.
