Reliance Industries shares in focus after Jio announces tie-up with SpaceX for Starlink

Reliance Industries’ subsidiary Jio Platforms Ltd. on Wednesday announced a partnership with SpaceX, the aerospace company led by billionaire Elon Musk, to introduce Starlink’s broadband internet services to its customers in India.This agreement, which is subject to SpaceX receiving its own authorisations to sell Starlink in India, enables Jio and SpaceX to explore how Starlink can extend Jio’s offerings and how Jio can complement SpaceX’s direct offerings to consumers and businesses, according to a company statement.
Jio Platforms will make Starlink solutions available through its retail outlets as well as through its online storefronts.
The company will also provide installation support for the devices.
Jio and SpaceX are also evaluating other complementary areas of cooperation to leverage their respective infrastructure to further enhance India’s digital ecosystem.“Ensuring that every Indian, no matter where they live, has access to affordable and high-speed broadband remains Jio’s top priority,” said Mathew Oommen, Group CEO, Reliance Jio.

“Our collaboration with SpaceX to bring Starlink to India strengthens our commitment and marks a transformative step toward seamless broadband connectivity for all. By integrating Starlink into Jio’s broadband ecosystem, we are expanding our reach and enhancing the reliability and accessibility of highspeed broadband in this AI-driven era, empowering communities and businesses across the country,” Oommen said.

“We are looking forward to working with Jio and receiving authorisation from the Government of India to provide more people, organisations and businesses with access to Starlink’s highspeed internet services,” said Gwynne Shotwell, President and Chief Operating Officer of SpaceX.

Shares of Reliance Industries Ltd. ended 0.71% higher on Tuesday at ₹1,247.25.