Such a move is likely to offer much needed clarity to global investors on the applicable foreign ownership rules, especially to companies planning to launch broadband-from-space services in India, and pave the way for top dollar inflows into India’s satcoms sector, these people added.
Sunil Bharti-owned Bharti Group holds majority stake in OneWeb and HCIPL is a joint venture between Bharti Group and satellite services company Hughes.
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In an interview to PTI, HCIPL, President and Managing Director, Shivaji Chatterjee said OneWeb will have an early-mover advantage in India, as competitors who are in fray to provide satellite communications service in India are either in the development stage or lag behind in data link speed.
Hughes Communications India (HCIPL) and OneWeb have signed a six-year distribution partner agreement to provide Low Earth orbit (LEO) connectivity services across India. In an interview to PTI, HCIPL, President and Managing Director, Shivaji Chatterjee said OneWeb will have an early-mover advantage in India, as competitors who are in fray to provide satellite communications service in India are either in the development stage or lag behind in data link speed.