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In a boost to Elon Musk's <keyword id="20034452" type="General" weightage="20" keywordseo="starlink" source="keywords">Starlink</keyword>, Communications Minister Scindia has said the spectrum for satellite broadband will be allocated and not auctioned as sought by Indian billionaires Mukesh Ambani and Sunil Mittal. The satellite broadband spectrum will however be not given free and sector regulator Trai will fix a price for the resource, he told PTI in a text and video interview. "Every country has to follow the <keyword id="20848482" type="General" weightage="20" keywordseo="international-telecommunications-union" source="keywords">International Telecommunications Union</keyword> (ITU), which is the organisation that lays out the policy for spectrum in space or satellites, and the ITU has been very clear in terms of the spectrum being given out on an assignment basis. In addition, if you look across the world today, I cannot think of a single country that auctions spectrum for satellite," Scindia said. India is a member of the International Telecommunication Union (ITU), a UN agency for digital technology. Musk's Starlink and global peers like Amazon's Project Kuiper back an administrative allocation. While Ambani's Reliance Jio has been vocal about the need to allocate such spectrum through an auction to provide a level playing field to legacy operators who buy airwaves and set up infrastructure like telecom towers, Mittal last month at an industry event where Prime Minister Narendra Modi was also present articulated the need to use bidding for such allocation. Jio and Mittal's Bharti Airtel - India's largest and second-largest operators, respectively - feel that giving away the satellite broadband airwaves at a pre-decided price by the government will create an uneven playing field since they had to compete in an auction to get spectrum for their terrestrial wireless phone networks. The two are vying for a piece of the satellite broadband segment as well. Musk-led Starlink is demanding administrative allotment of licences in line with the global trend as it looks to tap into the world's fastest-growing mobile telephony and internet market. Scindia said the Telecom Act of 2023 passed in December has put the matter in 'Schedule 1', which means that the Satcom spectrum will be allocated administratively. Such an allocation will be at a government-decided price, and allow foreign firms like Starlink to offer voice and data services. If the spectrum were to be auctioned, it would have made it costlier for Starlink to roll out services. Starlink has applied for a licence to start operations in the country. Scindia, however, offered no clues on the fate of his application. The minister said that the regulatory process is very clear and transparent. The new Telecom Act has been passed, and the Satellite spectrum is very clearly a part of that in schedule one, he pointed out. "...and therefore, we are open to looking at the application of any entity that wants to invest in India at this point in time. I think only one or two licenses have been given out. And whoever else wants to participate, India is surely going to welcome that," the minister said. Last month, Musk, in a post on X, termed the demand made by Jio for shunning sector regulator Trai's consultation paper on satellite broadband being allocated and not auctioned as "unprecedented", and when Mittal made the pitch in the presence of the Prime Minister, he asked if it was "too much trouble" to allow Starlink to provide internet services in India. This was perhaps the first time that Musk, whose networth of USD 241 billion is more than the combined wealth of Ambani, Mittal and Gautam Adani, had spoken directly against demands for a level playing field made by the Indian firms. Musk, the mind behind PayPal, founder of Tesla and SpaceX and owner of X (formerly Twitter), uses his social media platform on a daily basis to make his views known on a vast array of topics.

In a win for Elon Musk, Scindia says no to spectrum auction pitch from Ambani, Mittal

Remember the pictures of Indian Prime Minister Narendra Modi and Russian President Vladimir Putin locked in a good-natured embrace that had surfaced on the internet not long ago? While they might not be indicative of the leaders’ alignment in their politics, it is certainly representative of the close ties between India and Russia on multiple strategic aspects, including their respective space programs. The two nations have been mostly pally with each other since India’s post-independence — despite tensions between the US and USSR. And what is perhaps the best example of this friendship would be how the Soviet Union has contributed to the establishment and growth of India's space program. <div type="Article" hostid="261" msid="111577453" title="Modi&amp;#39;s Russia visit shows India isn&amp;#39;t worried about making the US mad" mstype="2" mssubtype="0"></div>India's space program, conceived in the 1960s under the visionary leadership of Dr <keyword id="20550009" type="General" weightage="20" keywordseo="vikram-sarabhai" source="keywords">Vikram Sarabhai</keyword>, was primarily focused on utilising space technology for national development. Unlike the space programs of the United States or the Soviet Union, which were heavily influenced by military competition and the Cold War, India's space endeavours were rooted in civilian and developmental objectives. Recognising the potential of space technology, India sought international cooperation, and the Soviet Union emerged as a crucial partner. As India celebrates its first <keyword id="18542869" type="General" weightage="20" keywordseo="national-space-day" source="Orion">National Space Day</keyword>, we would be remiss to not acknowledge all that Russia has done for our nation in terms of space exploration. And here are seven examples of the USSR's involvement during <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="261" meta.entityid="ISRO">ISRO</keyword>'s early years, with multiple instances of assistance. <h2>1. Aryabhata satellite (1975) </h2>The USSR was instrumental in the launch of India's first satellite, Aryabhata, in 1975. While the satellite was designed and developed by Indian scientists, it was launched using a Soviet Kosmos-3M rocket from the Kapustin Yar launch site in Russia. This marked India's first step into space and would not have been possible without Soviet support. <h2>2. Training of ISRO scientists</h2>Throughout the 1960s and 1970s, many Indian space scientists received training in Soviet institutions. This included training in areas like satellite communications, telemetry, and space mission operations. The transfer of technical knowledge was crucial for ISRO as it developed its own capacity to build and operate satellites independently. <h2>3. Bhaskara-I and Bhaskara-II satellites (1979 and 1981)</h2>The USSR launched two Indian Earth observation satellites, Bhaskara-I and Bhaskara-II, which were crucial for remote sensing applications in areas like meteorology, oceanography, and hydrology. Both satellites were launched aboard Soviet rockets, contributing to India's development of satellite-based Earth observation capabilities. <div type="Article" hostid="261" msid="109511778" title="US satellites could face threat from Russia and China&amp;#39;s &amp;#39;unfriendly&amp;#39; space behavior, warn defense analysts" mstype="2" mssubtype="0"></div><h2>4. Launch of apple satellite (1981)</h2>The Ariane Passenger Payload Experiment (APPLE) satellite, India's first experimental communication satellite, was launched in 1981 with Soviet assistance. While the satellite was launched aboard a European Ariane rocket, the Soviet Union provided crucial technical support during its development and also supported telemetry during its early operations. <h2>5. Tracking and telemetry support</h2>The USSR provided technical and infrastructural support to India by helping set up tracking and telemetry stations in India. These facilities were essential for controlling and receiving data from Indian satellites. Soviet technical assistance helped India develop its ground infrastructure for space missions. <h2>6. Interkosmos program (1984) </h2>Under the Soviet Union's Interkosmos program, India participated in a manned spaceflight mission. Rakesh Sharma, an Indian Air Force pilot, was sent into space aboard the Soviet Soyuz T-11 spacecraft, making him the first Indian to travel to space. This was a landmark event for India's space program, showcasing the close collaboration between ISRO and the Soviet space agency. <h2>7. Support for PSLV development</h2>In the early 1990s, during the development of ISRO's Polar Satellite Launch Vehicle (PSLV), the Soviet Union provided guidance and support, particularly in rocket propulsion technology. This collaboration helped ISRO overcome technical hurdles and achieve greater self-reliance in launching satellites. The dissolution of the Soviet Union in 1991 marked the end of an era in Indo-Soviet space collaboration. However, the legacy of the USSR's contributions to ISRO continues to influence India's space program. Russia, as the successor state of the Soviet Union, maintained friendly ties with India, and space collaboration continued, albeit with a different focus and scale. India’s manned space mission project, Gaganyaan, which aims to send Indian astronauts into space, involves training astronauts in Russia, demonstrating the lasting legacy of <keyword id="22892657" type="General" weightage="20" keywordseo="Indo-Soviet-space-cooperation" source="keywords">Indo-Soviet space cooperation</keyword>. <div type="Article" hostid="261" msid="112569406" title="ISRO targets first Gaganyaan mission launch by December: Chairman" mstype="2" mssubtype="0"></div>

7 times Russia aided India's space program — in chronological order

If your broadband connectivity faltered recently, the cause may be far above the Earth. On October 19, 2024, the <keyword id="23654638" type="General" weightage="100" keywordseo="Intelsat-33e" source="keywords">Intelsat 33e</keyword> satellite experienced a catastrophic event in <keyword id="20509348" type="General" weightage="20" keywordseo="geostationary-orbit" source="keywords">geostationary orbit</keyword>, breaking into at least 20 pieces. This fragmentation was later confirmed to have generated over 57 pieces of <keyword id="20715750" type="General" weightage="20" keywordseo="space-debris" source="keywords">space debris</keyword>. The satellite’s sudden disintegration impacted certain broadband and connectivity services in Asia, Europe and Africa. While the satellite wasn’t widely used for everyday home broadband, its services were vital for specific sectors. <keyword id="21479073" type="General" weightage="20" keywordseo="Intelsat" source="keywords" meta.keywordsubtype="org" meta.entityname="Intelsat" meta.hostid="261" meta.entityid="Intelsat">Intelsat</keyword> 33e was a critical part of Intelsat’s EpicNG network, delivering high-throughput broadband for inflight Wi-Fi, maritime connectivity, and business communications. It even supported broadband for airlines in India through a partnership with Tata's Nelco. However, the incident that occurred on October 19 resulted in a loss of power and service to Intelsat’s customers. In a statement released by the company, Intesat said that they were assessing their fleet’s capacity as well as working with third-party providers to mitigate service interruptions. Intelsat representatives were in direct communication with all affected customers, it further said. <h2>What caused the satellite to break apart? </h2>Instances of deliberate satellite destructions, accidental collisions and violent solar activity have all been documented in the past. But the exact cause of the satellite's breakup is still under investigation. Notably, Intelsat 33e, designed and manufactured by <keyword id="23663703" type="General" weightage="20" keywordseo="Boeing-Space-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="Boeing Space Systems" meta.hostid="261" meta.entityid="Boeing Space Systems">Boeing Space Systems</keyword>, has had a history of propulsion problems. Soon after its launch in 2016, the satellite faced thruster issues, which reduced its operational lifespan. Such malfunctions may have contributed to the satellite’s structural failure over time. In fact, the Boeing-built EpicNG 702MP satellite bus has experienced failures in the past, including one in 2019. At the moment, it remains unclear whether this was an isolated incident or part of a larger mechanical failure. Regardless of the root cause, the most pressing issue left by the incident is the generation of space debris, which presents risks for other operational satellites. <h2>Growing pile of space junk </h2>The breakup of Intelsat 33e adds to a growing concern: space debris. With over 57 pieces of the 6,600 kilogram satellite now floating in geostationary orbit, the risk to other satellites and space assets has increased. Space junk can cause significant damage to operational satellites by colliding with them at high speeds. Each collision generates even more debris, creating a dangerous cascade effect known as the Kessler syndrome, where space becomes increasingly congested and hazardous for future missions. While steps are being taken to track and mitigate space debris, incidents like this one highlight the growing urgency for better space traffic management and debris removal solutions. As we rely more on satellite infrastructure for global communication, the safety and sustainability of space have never been more critical. <div type="Article" hostid="261" msid="114292761" title="The sun is at its 11-year maximum. That means another year of eruptions that can endanger satellites, ground flights, and spark stunning auroras." mstype="2" mssubtype="0"></div>

Did you experience wonky broadband service recently? A broken satellite in space might have something to do with it!

As India celebrates ten years of the ambitious '<keyword id="20018809" type="General" weightage="20" keywordseo="Make-in-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Make in India" meta.hostid="153" meta.entityid="Make in India">Make in India</keyword>' initiative, Union Commerce and Industry Minister <keyword id="19895367" type="General" weightage="100" keywordseo="Piyush-Goyal" source="keywords">Piyush Goyal</keyword> has revealed its profound impact on the nation’s manufacturing and economic landscape. Speaking on Wednesday, Goyal talked about the key milestones achieved since the initiative’s inception, especially the dramatic decline in mobile phone imports and a surge in domestic production. Goyal said how there has been the near-total localisation of mobile phone manufacturing. He noted that prior to the launch of 'Make in India' in 2014, India’s mobile phone imports stood at a staggering ₹48,609 crore. However, in 2023-24, that figure has plummeted to just ₹7,665 crore, marking an impressive 85% reduction. But the transformation goes beyond the mobile industry. <keyword id="22266334" type="General" weightage="20" keywordseo="manufacturing-jobs" source="keywords">Manufacturing jobs</keyword> have also seen a staggering 200% increase between 2022 and 2024 according to Goyal, providing livelihoods and boosting the industrial workforce. Goyal praised this growth, underscoring that 'Make in India' has become a national movement, driving India closer to its goal of becoming a global manufacturing powerhouse. In a post shared on X, the minister expressed his pride in the initiative’s achievements: "Today marks #10YearsOfMakeInIndia, a transformative initiative launched by PM@NarendraModiji in 2014, which has revolutionised India's manufacturing landscape and strengthened our economic growth. Over the past decade, @MakeInIndiahas become a national force, paving the way for our country to emerge as a Global Manufacturing Hub," he wrote. Launched in 2014 by Prime Minister Narendra Modi, the ‘Make in India’ initiative was conceived to transform India into a global manufacturing hub, reduce import dependency, and create jobs.

Manufacturing jobs in India grew by 200 percent in last 2 years, says Piyush Goyal

The <keyword id="19915130" type="General" weightage="20" keywordseo="Indian-Space-Research-Organisation" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Space Research Organisation" meta.hostid="261" meta.entityid="Indian Space Research Organisation">Indian Space Research Organisation</keyword> (<keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords">ISRO</keyword>) is gearing up for a historic mission: landing a <keyword id="21695719" type="General" weightage="20" keywordseo="rover" source="keywords">rover</keyword> and <keyword id="20334867" type="General" weightage="20" keywordseo="helicopter" source="keywords">helicopter</keyword> on Mars! This audacious feat, currently only achieved by the US and China, aims to solidify India's place as a major space player. The many features and objectives of the <keyword id="21695716" type="General" weightage="100" keywordseo="Mangalyaan-2" source="keywords">Mangalyaan-2</keyword> mission were presented on National Technology Day at the Space Application Centre last week. India's heaviest rocket — the <keyword id="21695717" type="General" weightage="20" keywordseo="Launch-Vehicle-Mark-III" source="keywords">Launch Vehicle Mark-III</keyword> (LVM3) will facilitate this mission’s launch. Let’s take a look at what this illustrious mission will entail. <cmsannotation type="cmsannotation" annotationid="Landing like a boss with a sky crane and supersonic parachute" comment="subhead" text="Landing like a boss with a sky crane and supersonic parachute">Landing like a boss with a sky crane and supersonic parachute </cmsannotation>Forget airbags and ramps! ISRO's rover will arrive on Mars in style, courtesy of a sophisticated sky crane. Inspired by NASA's successful Perseverance rover landing and probably Tom Cruise’s in Mission Impossible, this ingenious system will gently lower the rover onto the Martian surface, ensuring a safe and precise touchdown even in tricky terrain. And to survive the fiery descent through the Martian atmosphere, ISRO is developing a supersonic parachute – a crucial piece of technology for this daring mission. <cmsannotation type="cmsannotation" annotationid="Taking flight on Mars with a special helicopter" comment="subhead" text="Taking flight on Mars with a special helicopter">Taking flight on Mars with a special helicopter </cmsannotation>The real showstopper might be the helicopter that ISRO is designing for the mission. Indian engineers are busy crafting this rotorcraft specifically designed to fly in the thin Martian atmosphere. This high-tech marvel will carry a suite of scientific instruments, including "MarBLE" (Martian Boundary Layer Explorer), which will study the Martian atmosphere during its daring 100-metre flights. <cmsannotation type="cmsannotation" annotationid="Staying connected with a relay satellite" comment="subhead" text="Staying connected with a relay satellite">Staying connected with a <keyword id="21695718" type="General" weightage="20" keywordseo="relay-satellite" source="keywords">relay satellite</keyword> </cmsannotation>Maintaining steady communication with your parents while living in a different city may get challenging due to subpar mobile reception. But ISRO will be able to do so with the Mangalyaan spacecraft even while it is over 200 kilometres away from Earth! To ensure seamless communication with the wandering rover and helicopter, ISRO plans to deploy a relay satellite ahead of the mission. This crucial link will act as a bridge between Mars and Earth, guaranteeing uninterrupted data flow and mission control. With a powerful Launch Vehicle Mark-III (LVM3) propelling the mission toward Mars, ISRO's second attempt promises to be a technological marvel. This ambitious project not only showcases India's growing space prowess but also paves the way for further exploration of our cosmic neighbour. So, stay tuned as India takes its giant leap for Martian exploration – it's sure to be a thrilling ride!

ISRO announces plans to make India the third country to reach Mars, draws inspiration from NASA’s probes

The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">rupee</keyword> recovered from its all-time low level and witnessed a range-bound trade against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early hours on Thursday, as investors remained cautious ahead of the US Fed meeting outcome later this week. Forex traders said RBI interventions will keep the <keyword id="23844589" type="General" weightage="20" keywordseo="USD/INR-pair" source="keywords">USD/INR pair</keyword> between 83.80 and 84.35. Moreover, the US Federal Reserve monetary policy and officials' comments will be in focus to derive further momentum. At the interbank foreign exchange, the rupee opened at 84.26 against the greenback, registering a rise of 5 paise over its previous close. On Wednesday, the rupee depreciated 22 paise to close at an all-time low of 84.31 against the US dollar. "The <keyword id="20045514" type="General" weightage="20" keywordseo="Indian-rupee" source="keywords">Indian rupee</keyword> fell to its lowest (level) on Wednesday and is expected to continue with its fall as the Reserve Bank of India (RBI) allows a weaker rupee with FPIs (<keyword id="20015748" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="keywords">foreign portfolio investors</keyword>) continuing their selling mode in equities," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. RBI protected the rupee for some time but left the protection as pressure on buying dollars was immense after a rise in the dollar index and an increase in US yields, Bhansali added. Forex traders said the rupee was trading in a narrow range as persistent foreign fund outflows, a muted trend in domestic equities and the strength of the American currency in the overseas market, dented investor sentiments. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.10 per cent lower at 104.98. Brent crude, the global oil benchmark, rose 0.79 per cent to USD 75.51 per barrel in futures trade. On the domestic equity market front, Sensex declined 429.83 points, or 0.53 per cent, to 79,948.30 points. The Nifty fell 143.25 points, or 0.59 per cent, to 24,340.80 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 4,445.59 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms" target="_blank">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a><a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms" target="_blank">Swiggy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-6500mah-battery-to-launch-in-india-on-november-26/articleshow/114945858.cms" target="_blank"></a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms" target="_blank">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Rupee rises 5 paise to 84.26 against US dollar in early trade

New Delhi, The government on Wednesday eased <keyword id="19946825" type="General" weightage="20" keywordseo="foreign-direct-investment" source="keywords">Foreign Direct Investment</keyword> (<keyword id="19946824" type="General" weightage="20" keywordseo="fdi" source="keywords">FDI</keyword>) norms in the space sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment. The decision was taken at the <keyword id="19901283" type="General" weightage="20" keywordseo="cabinet" source="keywords">Cabinet</keyword> meeting chaired by Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. Now, the satellite sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector, according to an official statement. Presently, FDI in the space sector is allowed up to 100 per cent in the area of satellite establishment and operations through government route only. By changing the current policy, the government has allowed up to 74 per cent FDI under automatic route in satellites-manufacturing and operation, satellite data products, and ground and user segments. Beyond this limit, government approval will be required in these areas for FDI, it said. Up to 49 per cent FDI is allowed through the automatic route for launch vehicles and associated systems or subsystems, creation of spaceports for launching and receiving spacecraft. Beyond 49 per cent, FDI in these activities would require government approval, it added. Further, up to 100 per cent overseas investments are permitted under the automatic route for manufacturing of components and systems/sub-systems for satellites, ground and user segments. This increased private sector participation would help generate employment, enable modern technology absorption and make the sector self-reliant. It is expected to integrate Indian companies into global value chains. Through the decision, the government seeks to liberalise the FDI policy provisions in the space sector by prescribing easy entry routes and providing clarity for overseas investments in satellites, launch vehicles and associated systems or subsystems, creation of spaceports for launching and receiving spacecraft and manufacturing of space-related components and systems. With this, companies will be able to set up their manufacturing facilities within the country, duly encouraging Make In <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> initiatives of the government.

Govt eases FDI norms in space sector; 100% in making components for satellites

<ul class="summary-list"><li>Some expat Indians are moving back home to launch companies of their own.</li><li>India's booming market size, internet growth, and post-pandemic spending is driving their decision.</li></ul>Nithin Hassan, 41, has always been fascinated with building something of his own.As a child in India, he would get in trouble for dismantling electronics around the house just so he could peek inside.In college, in true <a target="_blank" class="" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startup</a> fashion, he started working on a small business out of his parent's garage in Bengaluru, assembling computers for friends and family.It was the early 2000s and the internet was not the trove of knowledge it is today — Hassan was relying on books to learn. Finding mentorship and the right guidance was a challenge, too.Everyone around Hassan told him that going to the <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">US for a master's degree</a> was the next big opportunity. So he did.Over the next 16 years, he put his startup plans on hold and worked at some of the world's biggest companies, including Amazon, Microsoft, and Meta.<div type="image" title="Nithin Hassan" height="2450" width="3266" msid="113831978" hostid="261" sizebytes="215682"></div>But the pandemic felt like a turning point. And its aftermath made India look like a lab-designed business environment: It had just become the world's most populous country, the pandemic had created <a target="_blank" class="" href="https://economictimes.indiatimes.com/news/economy/indicators/private-consumption-continues-to-be-supported-by-pent-up-demand-finance-ministry/articleshow/99069973.cms?from=mdr">pent-up demand</a> for consumer products, and growing internet adoption made commerce more scalable, he said.So Hassan left behind about $500,000 in annual pay at Meta to move back to Bengaluru in December 2023 with his wife and two children. He has since launched two startups.Hassan is part of a group of <a target="_blank" class="" href="https://www.businessinsider.com/i-moved-back-to-india-after-living-abroad-for-decade-2024-9">expat Indians moving back</a> home to venture out on their own. As such, he's also part of a decades-long trend of reverse migration back to India.The trend began in the 1990s and picked up at the turn of the century, driven by the economic collapse in 2008, said Binod Khadria, the president of Global Research Forum on Diaspora and Transnationalism. Many of those who returned to India for work were largely working for multinational companies.Today, the impetus for the move often looks a bit different: It's driven by factors like unstable visa policies and economic recessions, which lead to uncertainty when it comes to jobs and duration of stay in these destinations.Many returnees find work in tech, but the finance, retail, and climate sectors also absorb a large number of expat Indians, Khadia said. And some of the returnees are heading back to India to start companies of their own.India is undergoing a startup explosion. The country reported over<a target="_blank" href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2043805"> 140,800 recognized startups</a> at the end of June — nearly 50,000 more than last year — and credited them with creating 1.6 million direct jobs.To be sure, not all of these companies will make it big — and some do still stumble, like <a target="_blank" class="" href="https://inc42.com/features/what-are-the-current-problems-being-faced-by-oyo/">Oyo </a>and <a target="_blank" class="" href="https://www.businessinsider.com/blackrock-hsbc-funds-byjus-startup-valuation-zero-edtech-india-raveendran-2024-6">Byju's</a>. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said.Business Insider spoke to six <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">first-time founders </a>about why they have recently returned to India after spending several years, or even an adult life, abroad.<h2 id="0e4a3c47-ba19-4690-8b52-c6bfece1c81d">Fastest-growing economy</h2>The health of the economy and interest from investors are fueling the entrepreneurship boom.<a target="_blank" class="" href="https://www.businessinsider.com/india-billionaire-karan-adani-plans-challenge-china-dominance-seaports-2024-8">India's economic growth</a> in 2023 — 8.2% — was the fastest of all large economies worldwide. That's led to greater purchasing power, which lets companies, including startups, sell more.India's inflation rate of about 3.5% is well below its annual wage growth of 9.6%. This makes inflation less of a challenge than it is for slower-growing peers, where consumer-focused businesses have been <a target="_blank" class="" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">hurt by high prices</a>.Investors are getting in on the action.From 2015 to 2021, the number of <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-capital-vc-firm-split-china-india-2023-6">unique investors in India</a> nearly quadrupled, though the number is tracking much lower this year, per PitchBook."Other than a slight downturn in 2022 and 2023 due to global macroeconomic factors, VC funding has been consistently growing in India," said Ben Mathias, a managing partner at Vertex Ventures Southeast Asia &amp; India.Besides funding, domestic developments have encouraged founders and VCs too, Mathias said.The Indian government's Universal Payment Interface system has spurred consumers and businesses to pay online, and <a target="_blank" class="" href="https://www.bcg.com/press/2june2022-digital-payments-in-india-projected-to-reach-10-trillion-by-2026">40% of all digital payments</a> globally happen in India today, the partner said.Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother.Devyani Parameshwar worked in the microfinance and fintech space in India in the 2010s before heading to the UK and Africa. She returned to India in 2022 to launch a financial management venture."It's changed dramatically. I remember standing in line at various ministries in Delhi trying to get meetings and then trying to get answers and it wasn't easy in the past," she said of her memories of India.Now, she can use an online platform to ask the country's central bank and banking regulator questions.It's easier than ever for foreign companies to invest in India, which means startups have a clearer exit path through acquisition — something VCs think hard about before entering new markets or writing checks.<h2 id="e5dd7b6f-a09f-4ff2-84c1-5907de96dc5e">Market ripe for the taking</h2>For Rohan Bhide, who spent most of his college and professional life <a target="_blank" class="" href="https://www.businessinsider.com/worked-in-big-tech-before-launching-my-own-startup-engineer-2024-9">preparing to launch something of his own</a>, a trip home in 2017 while he was studying in the US was a turning point.Indian telecom giant Reliance had recently launched a cheap unlimited data plan, which spiked Indian internet adoption. India was charting among the countries with the highest online transactions."That really, really drew my attention," said Bhide, who worked at Meta after graduation. "It was my dream come true — a huge market, a huge user base, and at the same time, the ability to adopt technology was incredible."Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. He and a cofounder are working on launching a consumer tech product later this year.<div type="image" title="Rohan Bhide" height="2304" width="3072" msid="113831979" hostid="261" sizebytes="218468"></div>Most Indians grew up wanting to work at a multinational company — but that's changing, Bhide said.Freelancing, running your own business, or working for a startup is much more socially acceptable now, because people see the success of other Indian startups. The country has the third-largest number of "unicorns" — companies worth $1 billion or more — with 64, per PitchBook.<h2 id="7f423804-745b-4e04-a250-839e01663f09">Boom in entrepreneurship culture</h2>A lot has changed since Hassan first wanted to launch his hardware startup in the early 2000s.Tech hot spots like Bengaluru and Gurugram have seen a boom in entrepreneurship culture in the last few years, with meet-ups, networking mixers, and even morning walks with like-minded builders.<div type="image" title="man standing in front of mountains in USA" height="2268" width="3024" msid="113831980" hostid="261" sizebytes="141132"></div>Dhruv Anand, who left Google in the US to move back to India in 2021 to launch an <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-most-promising-2024-9">AI startup</a>, said that there were lots of other founders and mentors to help guide him."If you want to figure out who's the right chartered accountant to talk to, who's the right lawyer to help you draft agreements, all of that stuff is very easy," Anand said."It's been a really, really supportive community," Bhide said. There are people "telling you about their entire lives just because they want to help you and they're hoping that you pass the favor onto the next person who moves to India and wants to start their own company."<h2 id="3c8bff36-e855-4530-9b44-bcc7f36b0825">Not everything is perfect</h2>Although these founders made the decision to return to India, that doesn't mean they no longer see the benefits of operating in the US.Ruchit Garg founded an agriculture startup in Silicon Valley in 2016, with a focus on supporting farmers around the globe. In 2019, he returned to India, where his late grandfather worked as a farmer.Garg has been building in India ever since, but he says its startup ecosystem cannot yet compete with the Valley's decades of experience."The overall ecosystem was more mature back in Silicon Valley. It's still one of the best places for entrepreneurs. India isn't there yet, although it's growing pretty drastically," he said.Despite efforts to digitalize key processes, many bureaucratic challenges persist.For most founders, after living in US cities where populations are a fraction of those in Mumbai and Bangalore, congested roads and poorer air quality are also everyday annoyances.But India provides some big perks, including affordable domestic help and the appeal of building solutions for problems they witness firsthand."It's a different joy to be able to build for problems that you feel for very personally," Parameshwar, the fintech founder, said. When she worked in Africa, she needed translators. Now, she can speak with her users herself.Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."For some founders, being surrounded by family and the culture they grew up in was another selling point.Niranjan Vemulkar moved back to India in 2015 and later founded a digital legacy planning platform.He said that he never fully felt at home in the US, where he lived for over a decade."For us, it was the fact that we wanted to raise a family in an environment where the children would have access to the grandparents and Indian culture," Vemulkar said. "The fact that you could come back to India, start something of your own and figure things out in an ecosystem which was potentially booming for startups, was just a cherry on the cake."Are you in India and have a story to share about the tech and entrepreneurship landscape? Please reach out at shubhangigoel@insider.com

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

<ul class="summary-list"><li>Houthi rebels used Russian satellite tracking data to hit ships in the Red Sea, The Wall Street Journal reported.</li><li>The data was supplied through Iran's Revolutionary Guard Corps members embedded in Yemen, the report said.</li></ul>Houthi rebels in Yemen used satellite data provided by Russia to target and attack commercial ships in the Red Sea, <a target="_blank" class="" href="https://www.wsj.com/world/russia-provided-targeting-data-for-houthi-assault-on-global-shipping-eabc2c2b?mod=e2tw">The Wall Street Journal reported.</a>The outlet cited three unnamed sources, including two European defense officials.One of the Journal's sources said that the satellite data was transferred to the Houthis via members of the Iranian Revolutionary Guard Corps embedded with the rebels in Yemen.The Journal's new findings, published on Thursday, are yet another sign that Russia is supporting the Houthis behind the scenes after the October 7 attacks in Israel triggered a renewed wave of violence in the Middle East.According to Western intelligence, the Kremlin earlier this year <a target="_blank" class="" href="https://www.businessinsider.com/iran-helping-houthis-try-secure-russia-ship-missiles-red-sea-2024-9">considered sending anti-ship missiles to the Houthis</a>. <a target="_blank" class="" href="https://www.reuters.com/world/middle-east/iran-brokering-talks-send-advanced-russian-missiles-yemens-houthis-sources-say-2024-09-24/">Reuters</a> reported on the matter in September, citing three regional and Western sources who said the arrangement was expected to be facilitated through Iran.The Russian Foreign Ministry and the Kremlin did not respond to requests for comment sent outside regular business hours by Business Insider.As its tensions with the West rise, Moscow has made it clear that it opposes Washington's involvement in the Middle East, where the US Navy has bolstered its presence significantly to defend commercial shipping lanes in the Red Sea and hedge against the risk of an all-out regional war.When the US and UK <a target="_blank" class="" href="https://www.businessinsider.com/videos-american-british-strikes-on-houthis-vowing-revenge-2024-1">launched dozens of strikes on Houthi targets in January</a>, Dmitry Peskov, spokesperson for the Kremlin, <a target="_blank" class="" href="https://tass.ru/politika/19716449">condemned the attacks</a> as "illegitimate" in the eyes of international law.The Houthis have for months <a target="_blank" class="" href="https://www.businessinsider.com/houthis-getting-smarter-red-sea-attacks-ships-paying-the-price-2024-6">harassed commercial ships in the Red Sea with drones and missiles</a>, for what they say is retaliation against Israel for its bombardment of Gaza. Health officials in Gaza say that over 41,000 people there have been killed by Israeli strikes.Yet many ships under attack from the Yemeni rebels have often borne no clear association with Israel.As the Red Sea grew riskier to navigate and ships began diverting to the Cape route, world freight rates doubled to nearly $4,000 per container in January and then jumped to over $5,900 in July, according to <a target="_blank" class="" href="https://www.drewry.co.uk/supply-chain-advisors/supply-chain-expertise/world-container-index-assessed-by-drewry">maritime research consultancy Drewry.</a>Rates as of press time were about $3,090, per Drewry's index, still far higher than the typical $1,300 per trip in October last year.Meanwhile, the US military has rotated multiple aircraft carrier groups to fend off Houthi attacks in the Red Sea, last week striking <a target="_blank" class="" href="https://www.businessinsider.com/b-2-stealth-bombers-join-red-sea-fight-bomb-houthis-2024-10">several targets in Yemen with B-2 Spirit stealth bombers.</a>

Russia gave Yemen's Houthi rebels satellite data so they could attack Red Sea shipping lanes: report

<ul class="summary-list"><li>Baiju Bhatt, the cofounder of trading app Robinhood, has a new space startup.</li><li>Aetherflux aims to launch a constellation of satellites to transmit solar power to Earth using infrared lasers.</li></ul>When Baiju Bhatt co-founded the stock trading app <a target="_blank" class="" href="https://www.businessinsider.com/robinhood-collapse-what-happened-retail-investing-meme-stocks-future-finance-2022-2">Robinhood</a> in 2013 with his college best friend, Vlad Tenev, the aim was to "democratize finance for all."Robinhood's no-fee, gamified approach to investing made capital markets more accessible than ever before, leading to an IPO in 2021.After over a decade at the company, Bhatt stood down as Robinhood's chief creative officer in March to pursue what was described at the time as "other entrepreneurial interests."In October, Bhatt announced he was launching Aetherflux, a Silicon Valley-based space startup.Aetherflux aims to create a constellation of satellites in low Earth orbit (LEO) that will collect solar power and beam it down to receptors on Earth using infrared lasers.Just as <a target="_blank" class="" href="https://www.businessinsider.com/inside-starlink-spacex-satellite-internet-business-constellation-fleet-elon-musk-mars">Elon Musk's Starlink</a> constellation has transformed communications, Bhatt hopes Aetherflux will revolutionize energy, he told Business Insider in an interview.The receptors will be just 10 meters in diameter, Bhatt said, meaning they can be placed virtually anywhere and theoretically provide power to remote locations that would otherwise be too expensive or dangerous to reach."If we succeed, we unlock a renewable energy source for humanity that can be delivered virtually anywhere," he wrote in a <a target="_blank" class="" href="https://www.linkedin.com/pulse/allow-me-re-introduce-myself-baiju-bhatt-nu1ic/?trackingId=xecx1MNjQxGa6fapJvT2fA%3D%3D">LinkedIn post</a> announcing Aetherflux.If it works, far more solar power can be captured in orbit than through the atmosphere at ground level, and there would be no nighttime or weather disruptions to the power source. It would also free up land used for solar farms on Earth.Aetherflux plans to start by powering military operations in remote locations or remote mining operations, Bhatt said.<div type="image" title="A profile of Baiju Bhatt smiling in a black t-shirt in front of a beige background." height="3553" width="5324" msid="114432481" hostid="261" sizebytes="611312"></div>Bhatt hopes that a single receptor will one day be able to capture enough power for a small neighborhood of homes. He added that they'd need around 100 satellites to provide continuous power to one location.The idea of space-based solar power has existed for decades, but theories have generally rested on large constructions being sent into orbit and using microwaves to transmit energy.In January 2023, the California Institute of Technology launched a solar space-power demonstrator satellite into orbit for a yearlong mission to test out a range of potential approaches.Caltech's president, Thomas F. Rosenbaum, <a target="_blank" class="" href="https://www.caltech.edu/about/news/space-solar-power-project-ends-first-in-space-mission-with-successes-and-lessons">said the project</a> had shown them that solar power beamed from space "is still a future prospect" but that it "should be an achievable future."Aetherflux wants to do things differently by using infrared lasers and a modular approach.The science has already been demonstrated; it's just going to be an engineering and economic feat to prove it can be done from space, Bhatt said.To begin with, Aetherflux plans to send a single satellite into orbit by the first quarter of 2026 to demonstrate that solar energy transmission is possible.<h2 id="f76e6857-d783-49d8-94bf-ab950b9759df">The right time to be in space</h2>Though the career jump from finance to the space industry may seem unusual, Bhatt said space has been his "lifelong calling."NASA was a part of Bhatt's childhood. His father moved to the US from India to pursue physics and got a job at NASA's Langley Research Center in the 1990s studying atmospheric sciences.With a bachelor's in physics and a master's in mathematics, both from Stanford, Bhatt thought he'd be a physicist too. So, Robinhood was a "bit of a detour," he told BI.He is still a board member but has stepped back from day-to-day operations.One lesson Bhatt said he learned from running the trading app was how powerful capitalism could be in accelerating innovation."If you can take a problem that's been stagnating and you can create a capitalist system around it where people can make money doing something, you'll see the rate of progress really speed up," he said.<div type="image" title="Baiju Bhatt (right) and Vlad Tenev, founders of the online brokerage Robinhood." height="4160" width="6240" msid="114432476" hostid="261" sizebytes="601100"></div>After meeting with people working on power for DARPA at the beginning of this year and seeing the <a target="_blank" class="" href="https://www.businessinsider.com/why-spacex-starship-launch-five-huge-deal-space-travel-2024-10">timeline Starship is on</a>, Bhatt decided that the best opportunities were now in space.Since 2009, the sum of private investments in space startups has soared from essentially nothing to $327.3 billion, according to the latest "<a target="_blank" href="https://spacecapital.docsend.com/view/9d69zpfz4ddms3ry">Space Investment Quarterly</a>" report published by venture capital and angel-investment firm Space Angels.The industry's value is expected to continue booming. <a target="_blank" class="" href="https://www.mckinsey.com/industries/aerospace-and-defense/our-insights/space-the-1-point-8-trillion-dollar-opportunity-for-global-economic-growth">McKinsey</a> estimates that the global space economy will be worth $1.8 trillion by 2035, accounting for inflation, up from $630 billion in 2023."It's hard to find something more exciting and impactful than space," said Matthew Weinzierl, a professor of the economics of space at Harvard Business School and coauthor of the upcoming book "Space to Grow.""This really is a new frontier, one where technological innovation can create new markets and solve real problems, often in ways we haven't thought of before," he said.Weinzierl said that in the past two decades, the US government has created pathways for commercial players, enabling market forces to take hold."Prices to orbit have dropped, launch availability has soared, and a wave of entrepreneurs are finding new ways to create value," he said.<div type="image" title="SpaceX's Super Heavy booster as it returned to its launch site, with the sun rising in the background." height="1031" width="1920" msid="114432482" hostid="261" sizebytes="52022"></div>With so many more commercially available products, space has <a target="_blank" class="" href="https://www.businessinsider.com/starship-launch-success-elon-musk-vision-cheap-space-travel-closer-2024-3#:~:text=%22With%20Starship%2C%20SpaceX%20is%20poised,in%20an%20email%20on%20Thursday.">never been cheaper</a>.Aetherflux is an example of how companies are using off-the-shelf solutions to speed up development. Its satellites are purchased readymade from satellite bus provider <a target="_blank" href="https://www.businessinsider.com/palmer-luckey-anduril-apex-defense-tech-space-satellite-surveillance-2024-10">Apex</a>, the high-powered lasers it plans to use are commercially available, and it'll be using <a target="_blank" href="https://www.businessinsider.com/spacex-launch">SpaceX</a> as a launch partner for its 2026 mission."The part that we're building is the actual optical design, the control systems, and the power transmission link, as well as the ground station," said Bhatt.<h2 id="5dda5318-030a-431a-91ff-f205b537a068">The future of Aetherflux</h2>When he spoke with BI, Bhatt had just moved into a lab facility in the Bay Area. With a team of 10 employees, he will begin iterating ground tests, developing the system design, and working with regulators.He's self-funding the project "completely," he told BI. As one of Robinhood's cofounders, Bhatt's net worth spiked after its IPO in 2021. He is worth around $1.7 billion, <a target="_blank" class="" href="https://www.forbes.com/profile/baiju-bhatt/">Forbes reports.</a>Although access to space has become more routine and affordable, Weinzierl said there is still a lot of uncertainty around the industry. Some of the ideas and businesses being developed today won't survive, but they'll be "the foundation that tomorrow's entrepreneurs will learn from and build on," he said.A self-proclaimed science nerd, Bhatt named his startup after a 19th-century theory about a pervasive medium called the aether, which physicists believed light traveled through."Einstein came along in 1905 and was basically like, nah, that stuff's all wrong. Light is the same in every reference frame," said Bhatt.So Aetherflux is named after a disproven scientific theory? Yes, Bhatt agreed with amusement. But he's "laser-focused" on the first mission and adamant that Aetherflux won't fall into the same bracket as its namesake."Space is hard," he admitted, "but we're committed to demonstrating this and making it happen."

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