Bengaluru, NFAPost: Eutelsat OneWeb, a subsidiary of Eutelsat, has received the green light from India’s space regulator to initiate commercial satellite broadband services in the country. The approval comes at a crucial time as Prime Minister Modi’s government, eyeing upcoming elections, intensifies efforts to advance India’s space industry. Since the opening of the space sector to private launches in 2020, the number of space startups in India has surged from 21 to 47 within a year.
Investor interest in Indian space startups has also skyrocketed, with a noteworthy $119 million poured into the sector in 2022 alone, a substantial increase from the cumulative $38 million invested up to 2017. Analysts attribute this growing enthusiasm to the perception of Indian launch services as a cost-effective alternative to European counterparts facing delays or still in development. Additionally, investors see the advantage of tapping into India’s vibrant manufacturing hub.
Sunil Bharti Mittal, co-chair of Eutelsat Group’s board, expressed readiness to deploy Eutelsat OneWeb’s services pending the final spectrum authorization. The Indian National Space Promotion and Authorization Centre granted approval for Eutelsat OneWeb’s satellite constellation for a five-year period.
Notably backed by Indian billionaire Sunil Bharti Mittal’s Bharti Enterprises, OneWeb has formed a strategic partnership with the Indian Space Research Organization (ISRO), aiming to launch 36 satellites. Mittal, who also heads Airtel, India’s second-largest telecom carrier, plays a pivotal role in advancing the objectives of Eutelsat OneWeb.
Despite the global commercial space market projected to reach $1 trillion by 2030 from its current $400 billion valuation, India’s current share stands at a modest 2%. The government, however, is determined to alter this landscape, setting ambitious targets to secure a $40 billion slice of the market by 2040. As Eutelsat OneWeb gains regulatory approval, it marks a significant stride in India’s pursuit of a more prominent role in the rapidly evolving space industry.
