Reliance Shares Gain as Jio Partners with SpaceX for Starlink in India

Mumbai, India: Shares of Reliance Industries Limited (RIL) saw early gains after Jio Platforms announced a partnership with Elon Musk’s SpaceX to bring Starlink’s satellite internet to India. The stock rose over 1% in early trade before settling 0.35% higher at ₹1,251.50 around 10 AM due to market volatility.

Under the agreement, Jio will distribute and manage Starlink connections in India, handling installations and customer support. However, the rollout depends on regulatory approvals, as SpaceX is still awaiting spectrum licenses to operate in the country.

The announcement comes a day after Airtel also signed a deal with SpaceX, signaling increased competition in India’s emerging satellite broadband market. SpaceX President Gwynne Shotwell praised Jio’s commitment to expanding internet access and expressed hope that government approvals would come soon.

If approved, Starlink could revolutionize India's broadband sector, offering high-speed satellite internet as an alternative to fiber and mobile networks.