Technology billionaire Elon Musk stated that Starlink pricing in India must be affordable because consumers will not buy the service if it is too expensive. He also emphasized that competition will give Indian citizens more choice.
Musk's comments, posted on X, came amid preparations by Jio Platforms, the digital division of Reliance Industries, for what is expected to be the largest public offering in India.
Musk noted: 'The reality is that competition will greatly benefit the average citizen in India by providing them with more options, as it always does. Ambani's profit will decrease, but he will not go bankrupt.'
He added that if Starlink proves too expensive in India, no one will buy it, so SpaceX must make the prices affordable. In the same post, Musk continued to criticize Mukesh Ambani regarding Starlink's entry into the Indian market, accusing the billionaire's supporters of 'absurd hypocrisy and hyperbole.'
Musk pointed out a contradiction in Ambani's supporters' arguments: they simultaneously claim that the satellite internet service cannot compete with 'the stunningly low prices offered by Ambani's de facto monopoly in India,' while also stating that Starlink poses a serious competitive threat. He called such 'stupid arguments' from Ambani's supporters meaningless.
Musk's latest post followed his sharp criticism of Ambani regarding the protracted timelines for launching Starlink satellite broadband services in India.
Reliance has not yet issued an official response to Musk's accusations, but the government has stated that the country's authorization system for telecommunication and satellite services is 'fair and non-discriminatory,' and any suggestions of its selective application are 'unfounded and erroneous.'
At the Indian Mobile Congress this week, amidst Musk's dramatic confrontation on X, Reliance Jio Infocomm Chairman Akhil Ambani declined to comment on the ongoing satellite communication debates, stating that the company is focused on delivering value to Indian consumers.
Communications Minister Jyotiraditya Scindia stressed on Friday that India does not permit monopolies in any industry. He reported that despite the hype around one company, three players have received licenses for satcom and can begin operations after meeting security requirements and achieving established milestones.
These three entities include Musk's Starlink, Reliance Jio's satellite venture Jio Satcom, and Bharti-backed Eutelsat OneWeb. Additionally, Amazon has expressed interest in the Kuiper project and must follow the established procedure.
Jio is building a satellite constellation consisting of over 1600 low-Earth orbit satellites, supported by 23 ground stations. Musk's SpaceX-managed Starlink constellation comprises over 11,000 satellites.
Musk's relentless attacks on Ambani are happening at a critical time, as the initial public offering of Jio Platforms, expected to be the largest in the country, is likely to open for subscription on October 21. The market anticipates the listing of this digital giant's shares on stock exchanges on October 28.
Although the company has not announced official dates, it is known that the mega-offering will open for subscription from October 21 to 23 following the anchor round on October 19. With an estimated issue size of $3.8 billion, the Jio Platforms IPO is positioned as India's largest public offering. The company completed overseas roadshows and is expected to file final documents with the market regulator Sebi in the week starting October 12. The Securities and Exchange Board of India (Sebi) issued its final comments on August 28. Jio Platforms filed draft IPO documents in June. According to its prospectus, the company plans to issue up to 270 million new shares, equivalent to approximately 2.9 percent of its capital after the placement.