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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

<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s biggest-ever auction of spectrum that carries telephone and internet data signals, began on Tuesday with a total of 72 GHz (gigahertz) of 5G airwaves worth Rs 4.3 lakh crore on offer. <keyword id="2628697" type="General" weightage="80" keywordseo="billionaire-mukesh-ambani" source="Orion">Billionaire Mukesh Ambani</keyword>'s <keyword id="6354504" type="General" weightage="80" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, Sunil Mittal-led <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, <keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> and a unit of billionaire <keyword id="111343" type="General" weightage="80" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>'s flagship <keyword id="118623" type="General" weightage="80" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword> are in the race to bid for 5G spectrum, that offers ultra-high speeds (about 10 times faster than 4G), lag-free connectivity, and can enable billions of connected devices to share data in real-time. In addition to powering ultra-low latency connections, which allow downloading full-length high-quality video or movie to a mobile device in a matter of seconds (even in crowded areas), <keyword id="59798" type="General" weightage="80" keywordseo="fifth-generation" source="Orion">Fifth Generation</keyword> or 5G would enable solutions such as e-health, connected vehicles, more immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming among others. The auction is being held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and high (26 GHz) frequency bands. The bidding which started at 1000 hrs will continue till 1800 hrs and will carry over into the next day, if there exists a demand for spectrum and bidders are putting in bids. The number of days the auction ultimately stretches to will depend on the actual demand for radiowaves and the strategy of individual bidders, although the broad industry consensus is that it may last up to two days. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/upcoming-new-features-of-miui-14-and-supported-devices-leaked/articleshow/93127500.cms">MIUI 14 features and supported devices leaked—audio upgrades, new notification, and anti-fraud expected</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/suspected-case-of-monkeypox-in-ups-aurraiya-district/articleshow/93126209.cms">Suspected case of monkeypox in UP's Aurraiya district</a>

India's biggest spectrum auction begins; 5G airwaves worth Rs 4.3 lakh cr on offer

In 2020, there were only four Indians in the global top 100 rich list, now there are seven

<ul><li><keyword id="111343" type="General" weightage="20" keywordseo="Gautam-Adani" source="Orion">Gautam Adani</keyword> is ranked 4th in the world with a total net worth of $125 billion.</li><li>Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion.</li><li>The next rank from India is number 45 for <keyword id="6419840" type="General" weightage="20" keywordseo="Azim-Premji" source="Orion">Azim Premji</keyword> of Wipro with a net worth of $ 24.6 billion.</li></ul> The double As - Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one. There was a time when <keyword id="232460" type="General" weightage="20" keywordseo="Tata-and-Birla" source="Orion">Tata and Birla</keyword> were synonyms for India's rich. Every region had its own wealthy like the Shrirams, Thapars, Nandas, and Modis in the north or the Bangurs in the east or the Mafatlals, Walchands, Kirloskars, Khataus, Sarabhais and Lalbhais in the west and the M.A. Chidambaram group in the south. Over time, many groups have floundered and fallen on bad times. There are many defining moments in this journey which saw a debilitating impact on family industrial groups. The year 1964 was a turning point because this was when the Monopolies and Restrictive Trade Practices Commission was established. By that year, the MRTP Commission had finished collecting and sifting information on Indian big business and hence reliable data was available. The next interesting inflection point came in 1991, when the P.V. Narasimha Rao administration introduced the New Economic Policy. This is where it all changed - India's most radical policy document in the form of the New Industrial Policy - the Licence Permit Raj was scrapped on 24 July 1991. Democratic socialism had been consigned to the rubbish heap of history - Licence Raj, which was in place for four decades, came to an end with the new industrial policy announced by Finance Minister Manmohan Singh and Prime Minister P.V. Narsimha Rao, who also held the portfolio of Industries Minister. The New Industrial Policy proposed getting rid of Monopolies and Restrictive Trade Practices and abolishing industrial licensing for all but 18 industries. Foreign equity holdings were proposed to be raised by 51 per cent in a project. Indian industry was free of controls and bureaucracy like never before. Over the last 30 years, India Inc had been turned on its head. As per the Bloomberg Billionaires Index now, Gautam Adani is ranked 4th in the world with a total net worth of $125 billion. Adani is followed by Mukesh Ambani at number 10 with a net worth of $83.6 billion. However, after Adani and Ambani the gap widens by a large extent and is then taken up by the software czars. The next rank from India is number 45 for Azim Premji of Wipro with a net worth of $ 24.6 billion. Shiv Nadar of HCL Technologies is at number 51 on the index with a net worth of $22.8 billion. The representation from India is then only at number 101 with Dilip Shanghvi with a net worth of $14.9 billion followed by Cyrus Poonawalla at 102 with $14.8 billion. Lakhsmi Mittal is at 103 with a net worth of $14.7 billion. Uday Kotak is ranked 106 with a net worth of $13.7 billion. Savitri Jindal is ranked at 119 on the Bloomberg Billionaires Index with a net worth of $12.9 billion. Sunil Mittal is ranked at 134 with a net worth of $12.2 billion. Kumar Birla is at 159 with a net worth of $10.8 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/over-2-49-crore-unaccounted-cash-seized-in-hyderabad/articleshow/94750636.cms">Over ₹2.49 crore unaccounted cash seized in Hyderabad</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/this-giant-swing-in-manali-runs-on-ai/articleshow/94741834.cms">This giant swing in Manali runs on AI</a>

Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

Which Zodiac signs do the biggest billionaires belong to?

India's largest telecom operator <keyword id="6354504" type="General" weightage="80" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> added 30.5 lakh mobile subscribers in March, accelerating its momentum of February, while <keyword id="1553175" type="General" weightage="100" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> lost 12.12 lakh wireless users during the month, according to data released by telecom regulator <keyword id="6356988" type="General" weightage="20" keywordseo="TRAI" source="Orion">TRAI</keyword>. Sunil Mittal-led telecom company <keyword id="6354287" type="General" weightage="80" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> onboarded 10.37 lakh mobile subscribers in March, raising its subscriber base to 37.09 crores in March against 36.98 crores in February. Reliance Jio added 30.5 lakh subscribers in March, as its subscriber count exceeded 43 crore, compared to 42.71 crore in February. It is pertinent to mention that in February too, Reliance Jio had added the maximum number of mobile subscribers (at about 10 lakh) among telcos, while <keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> had gained 9.82 lakh mobile users during February. A look at March data released by TRAI showed that Vodafone Idea -- which trails Reliance Jio and Bharti Airtel in the mobile market subscriber tally -- lost 12.12 lakh mobile users in March. Vodafone Idea's mobile subscriber base shrunk to 23.67 crore in March, from 23.79 crore in the previous month. Overall, the broadband subscribers' tally rose by 0.86 per cent month-on-month. "... the total broadband subscribers increased from 839.33 million at the end of February-23 to 846.57 million at the end of March-23 with a monthly growth rate of 0.86 per cent," a Telecom Regulatory Authority of India (TRAI) release said. Top five service providers constituted 98.37 per cent market share of the total broadband subscribers at the end of March 2023, including Reliance Jio Infocomm Ltd (43.85 crore), Bharti Airtel (24.19 crore), Vodafone Idea (12.48 crore). Overall, the number of total telephone subscribers in India increased to 1,172.84 million (117.2 crore) at the end of March 2023, showing a monthly growth rate of 0.21 per cent. "Urban telephone subscription increased from 652.16 million at the end of February-23 to 653.71 million at the end of March-23 and the rural subscription also increased from 517.77 million to 518.63 million during the same period. "The monthly growth rates of urban and rural telephone subscription were 0.24 per cent and 0.17 per cent respectively during the month of March-23," TRAI said. Overall teledensity in India increased to 84.51 per cent at the end of March 2023. "The Urban Tele-density increased from 133.70 per cent at the end of February-23 to 133.81 per cent at the end of March-23 and rural tele-density also increased from 57.63 per cent to 57.71 per cent during the same period," it said. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/gautam-adani-in-striking-distance-of-entering-the-top-20-richest-club-once-again/articleshow/100437220.cms">Gautam Adani in striking distance of entering the top 20 richest club once again</a> <a href="https://www.businessinsider.in/finance/news/bank-deposits-gold-sales-real-estate-to-get-a-boost-with-2000-note-withdrawal-kotak/articleshow/100429411.cms">Not just bank deposits, gold sales &amp; real estate to get a boost from ₹2,000 note withdrawal</a> <a href="https://www.businessinsider.in/business/startups/news/angel-tax-changes-to-cheer-investors-aid-late-stage-funding-say-experts/articleshow/100422848.cms">Angel tax changes to cheer investors, aid late-stage funding say experts</a>

Jio adds 3 million subscribers in March, Vodafone Idea loses 1.2 million

NEW DELHI: The high-profile composition of the business delegation set to accompany Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> to <keyword id="6355311" type="COUNTRY" weightage="80" keywordseo="Japan">Japan</keyword> points to new vistas of cooperation between the two nations, in areas ranging from manufacturing to hydrocarbon and technology. 
 <keyword id="3820" type="PERSON" weightage="80" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, Kumar Managalam Birla, Sunil Bharti Mittal, Gautam Adani, Dilip Shanghvi, <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword>, S Ramadorai, Chanda Kochhar and Kiran Mazumdar-Shaw are some of the prominent names on the list. 
 
“This is the most-high-powered delegation that has travelled with any Indian PM in recent years,” said a government official who did not wish to be named. “It will bring new energy in India-Japan ties. The delegation represents all corners of the country and covers almost all aspects of the economy. 
 
These business leaders will help to realise the PM’s dream of taking India-Japan ties to the next level.” 
 According to sources, the Prime Minister’s Office has pruned the list, dropping at least <keyword id="6364063" type="PERSON" weightage="80" keywordseo="Adi-Godrej">Adi Godrej</keyword>, S Gopalakrishnan and <keyword id="33275" type="PERSON" weightage="80" keywordseo="Deepak-Puri">Deepak Puri</keyword> from it. An official downplayed dropping of the names, saying that with any change of guard at the Centre there are changes in the composition of delegations travelling with the PM. The idea is to get additional Japanese business to India and to see who can partner major Indian business firms to make entry here, another official said. 
 The business delegation will attend the the India Japan Business Forum. The PM said he sees the trip as an opportunity to take India’s ties with Japan “to a new level” and increase cooperation in various fields. “I will visit <keyword id="4741" type="COMPANY" weightage="80" keywordseo="Tokyo">Tokyo</keyword> and Kyoto, and will interact with all sections of the Japanese society, from students, political leaders to captains of industry,” he said on Tuesday.

You Searched For "Sunil Bharti Mittal Gautam Adani" and got 7 results

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

PTI

India's biggest spectrum auction begins; 5G airwaves worth Rs 4.3 lakh cr on offer

PTI

In 2020, there were only four Indians in the global top 100 rich list, now there are seven

Kritti Bhalla

Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one

IANS

Which Zodiac signs do the biggest billionaires belong to?

Katya Naidu

Jio adds 3 million subscribers in March, Vodafone Idea loses 1.2 million

PTI

Narendra Modi To Take Top Business Honchos To Japan

Economic Times

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