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The first small rockets ferrying satellites on Indian Space Research Organisation (Isro) design and technology will take at least two more years to reach the launch pad, even as work to find the ideal candidate for the job reaches its final stage.

Twenty-three companies had applied to build Isro’s Small Satellite Launch Vehicle (SSLV), after the organization in 2023 decided to bring in the private sector to fuel the growth of the space sector. Of these, three were shortlisted. According to Pawan Kumar Goenka, chairman of Indian National Space Promotion and Authorization Centre (In-Space), the country’s nodal space agency, the government is “likely to finalize the private player for manufacturing SSLV by May this year.”

While Goenka did not name any of the three companies, a senior official aware of the matter said state-run Hindustan Aeronautics Ltd and Bharat Dynamics Ltd are two of the three companies shortlisted for commercializing the small rocket launcher.

“We are still getting some information from the companies and the evaluation of applications will start by the end of this month,” Goenka said on the sidelines of an event in New Delhi.

The decision to transfer the technology to the private sector was part of the Centre’s strategy to increase the involvement of companies in the space sector. In 2023-end, Goenka, through his decadal vision for India’s space sector, projected it to be worth $44 billion by 2033.

Stakeholders of the space industry said that country’s space firms are yet to truly chase global businesses for commercial orders, as a result of which the impact of the delay of the SSLV may not be as big, since revenue growth could already be low.

“India’s space sector is highly domesticated, and its international linkages are limited to a few players only. The global economic turbulence won’t allow the Indian commercial space sector to go international any time soon,” said Chaitanya Giri, space fellow at global think tank Observer Research.

Giri said that India’s space sector has not been able to leverage domestic enterprises due to the lack of readiness of infrastructure such as the SSLV. As an example, he cited both Reliance Jio and Bharti Airtel partnering with the likes of the UK’s OneWeb, Luxembourg’s SES and this week with Elon Musk’s Starlink for satellite internet services—instead of building their own satellites and launching them with India’s own rockets, which would have generated substantial revenue for India from within India itself.

“We are still at least a few years away from creating a strong bond between a lucrative telecom sector and the nascent space sector. Both sectors will have to confide in each other; the telecom industry must bank on domestic space industry’s capabilities, and the space sector must bank on the orders,” he added.

However, some highlighted that the country needs to rush to capture the interest in launching small satellites commercially, as the world lacks a dedicated launcher for such satellites right now.

“This leaves Isro’s SSLV as the only one with launch capacity—but the manufacturing turnaround of India’s small rocket will need to happen as quickly as possible, if India were to capture an opportune piece of the global space pie,” a space industry veteran said, requesting not to be identified.

To be sure, Goenka’s ‘decadal vision’ has of late met with questions from various corners. On 25 February, Union minister of state for space Jitendra Singh said that India’s space industry is currently worth $8 billion—requiring a compounded annual growth rate of nearly 24% to become $44 billion by 2033.

However, India’s private space startups are yet to start firing on all cylinders. Skyroot Aerospace and Agnikul Cosmos, private firms building small rockets to launch small satellites, have only conducted solitary sub-orbital ‘demonstrator’ or trial launches. Privatization of India’s central space agency’s rockets, the Polar Satellite Launch Vehicle (PSLV) and the SSLV, are also a multi-year process—largely owing to engineering complexities in space.

This has led to stakeholders questioning the potential value that the space sector can generate, particularly when taking into account factors such as the SSLV not being ready until 2027.

However, Goenka doesn’t see any constraints for investments. “Companies will only invest when they see commercial viability. Funding is the biggest concern for startups, but with a ₹1,000 crore venture capital fund kicking in soon and a lot of other funding in the pipeline, I don’t think it should be a concern,” he said. LiveMint

Jairam Ramesh, general secretary in-charge communications of the Congress party has targeted Prime Minister Narendra Modi again, this time in connection with the partnerships between the telecom and satellite players.

US billionaire Elon Musk’s SpaceX has entered into an agreement with telecom provider Airtel to introduce Starlink services in India. A day later, a deal was signed between Reliance’s Jio Platforms and Musk’s SpaceX. While Sunil Mittal has lauded and welcomed the partnership, the Congress party has alleged that these deals were ‘orchestrated’ by the prime minister to “buy goodwill” of US President Donald Trump through Elon Musk.

Sharing a post on X, Ramesh questioned how come both Airtel and Jio signed a deal with SpaceX just 12 hours apart, given that their previous objections regarding its entry to India have been overcome now, which they have been voicing for quite some time. He further added that many questions remain and the most important one is related to national security.

Deal sparks security concerns
In his post, he mentioned, “It is abundantly clear that these partnerships have been orchestrated by none other than the PM himself to buy goodwill with President Trump through Starlink’s owner Elon Musk. But many questions remain. Perhaps the most important one relates to national security. Who will have the power to switch connectivity on or off when national security demands it? Will it be Starlink or its Indian partners? Will other satellite-based connectivity providers also be permitted and on what basis?”

Ramesh also questioned the government over Tesla’s manufacturing in India and asked whether there remains some commitment to it, given that Starlink has been facilitated into India.

Starlink deal
Mukesh Ambani-led Reliance’s Jio Platforms and SpaceX struck a deal on Wednesday, which came as a surprise, given the feud between the two billionaires over internet service airwave allocation. In the last few months, competitors Jio and Airtel came together and advocated for a spectrum auction for satellite services in India, arguing that an administrative allocation could allow Musk to acquire airwaves at a lower cost than what they previously paid through auctions, according to a PTI report. Business Standard

India’s biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring Elon Musk-led SpaceX’s Starlink satellite services to India. The move, analysts said, could boost India’s tele-density, especially in rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains.

In the near-term, though, ambiguity over regulatory clarity may keep upside in the stocks restricted, they cautioned.

“Long-term investors may find attractive entry points in these stocks amid market corrections. Gradually adding these stocks during dips can enhance portfolio value, especially as telecom expansion, 5G adoption, and digital initiatives drive sustained growth prospects for Bharti Airtel and Reliance Jio,” said Siddhesh Mehta, research analyst at SAMCO Securities.

Earlier this week, Sunil Bharti Mittal-led Bharti Airtel announced its partnership with SpaceX to bring Starlink’s high-speed internet services to its customers in India.

Mukesh Ambani-backed Jio Platforms, too, announced a similar agreement with SpaceX, revealing that Reliance Jio will not only offer Starlink equipment at Jio’s retail outlets but will also establish a mechanism to support customer service installation and activation.

The deals, analysts at Citi Research said, would be more suited for servicing remote rural areas where there are coverage gaps rather than high-density urban areas where satellites may not be able to match terrestrial networks in terms of capacity and coverage.

That apart, both the telecom players could use this partnership to expand their business-to-business (B2B) connections and related offerings to enterprises and businesses in areas that otherwise lack fibre/fixed wireless access (FWA) connectivity, analysts pointed out.

Pricing, regulatory hurdles
While the move remains sentimentally positive as tying up with Starlink, rather than competing with it had it come by itself in India, has tilted the scales in the favour of Airtel and Jio, analysts say it is too early to cheer the wins given the regulatory hurdles and pricing pressure.

The agreements, they said, are contingent upon obtaining necessary regulatory approvals from the Government, which has earlier expressed concerns over its privacy policies.

India’s cost-sensitive market, they added, presents a challenge as Starlink’s global pricing is significantly higher than local internet rates.

According to an analysis by JM Financial, Starlink (and other satcom companies) have globally priced satellite internet plans at $10-500 per month excluding one-time cost for hardware (which is $250-380). This, the brokerage said, is 7-18 times more expensive than Indian telcos’ home broadband plans (i.e., FTTH/FWA) that start from $5-7/month.

Starlink’s satellite internet use case, thus, will focus on providing network to rural and remote regions, complementing Bharti/Jio Fiber and AirFiber broadband business, the brokerage noted.

“We believe the agreement seems limited to Bharti/Jio distributing Starlink’s satellite broadband services via their extensive retail network, mostly to B2C and B2B customers in rural and remote areas, in return for some distribution income. However, the direct contribution to their overall revenue is likely to remain limited,” it said.

Moreover, Jio and Airtel have their own satellite broadband ventures – Bharti-backed Eutelsat OneWeb and Jio’s JV with SES (Orbit Connect India), which are ahead of Starlink in terms of securing the licence from the Department of Telecommunications (DoT) and approvals from IN-SPACe.

“We believe this agreement with Starlink will only help telcos position themselves as facilitators in bringing satellite connectivity to a wider customer base in India,” JM Financial said.

Against this backdrop, analysts suggested investors closely monitor revenue growth, subscriber additions, and the impact of 5G adoption on profitability.

“Reliance Industries presents a better earnings momentum, going ahead, and the potential listing of the Jio telecom unit, amid Starlink deal, could be a major positive factor supporting the company,” said Vishnu Kant Upadhyay, AVP for Research & Advisory, Master Capital Services. Business Standard

Infosys co-founder NR Narayana Murthy cautioned against what he called “exaggerated” claims surrounding artificial intelligence (AI) in India, while asserting that poverty can be tackled by innovation and job creation and not by freebies.

Murthy pointed out that many systems labelled as AI are just conventional programs.

“I find that most of the so-called AI, I see, is silly and old programming,” he said while speaking at TiEcon Mumbai 2025.

“It has become a fashion in India to talk of AI in everything. Ordinary programs are touted as AI,” he said, adding that true AI involves two fundamental principles: machine learning, which enables large-scale correlation for predictive analysis, and deep learning, which mimics human brain functions to handle unsupervised algorithms.

“Unsupervised algorithms which use deep learning and neural networks are the ones that have much greater potential to do things that will mimic human beings better and better,” he said.

Murthy highlighted that with every technological advancement, certain jobs may be eliminated, but if implemented in an assistive manner, it can drive economic growth.

“In each tech, certain jobs will be eliminated, but if used in an assisted manner, we can grow the economy,” he said.

Drawing parallels with AI, he explained that while automation may replace certain roles, it also has the potential to create new industries and employment opportunities.

“AI for example, if you use it in autonomous vehicles for transport, hospital care, it will lead to expansion of those companies and create jobs,” he said.

He urged startups to benchmark themselves against the best global standards.

“In the beginning, it looks impossible, but the moment the mind-set has been created, you’ll start making progress,” he said. He also stressed the need to hire talent that is “smarter than you” and to foster a workplace that is open to new ideas.

“That’s how you solve the problem, and not with freebies. Our poverty will vanish like dew on a sunny morning,” he added.

“Every startup that failed did not follow this,” said Murthy.

An advocate of compassionate capitalism, Murthy took a critical stance on government freebies, arguing that subsidies should be tied to measurable outcomes.

“What you can do is, when subsidies are provided, you can ask for something in return. If you give free electricity for the first six months, at the end of it, we’ll find out if children are reading more and if their performance is better in school,” he added.

Offering guidance to entrepreneurs, Murthy emphasised the importance of earning respect from all stakeholders, including customers, employees, investors, and regulators.

“If you think in terms of doing good to society, you’ll get repeat business, employees will join and investors, vendors will put up with you in difficult times, politicians will want you to succeed,” he said. Business Standard

The US Federal Trade Commission said it does not need to delay a September trial against Amazon, reversing an attorney’s statement earlier in the day that resource shortfalls due to cost-cutting required an extension.

Jonathan Cohen, an attorney for the FTC, said he was wrong about the lack of resources in a statement addressed to U.S. District Judge John Chun in Seattle.

“The Commission does not have resource constraints and we are fully prepared to litigate this case. Please be assured that the FTC will meet whatever schedule and deadlines the court sets,” Cohen said.

FTC Chairman Andrew Ferguson reiterated the agency’s commitment to the consumer protection case.

“I have made it clear since Day One that we will commit the resources necessary for this case. The Trump-Vance FTC will never back down from taking on Big Tech,” Ferguson said in a statement.

Earlier on Wednesday, Cohen had outlined a “dire resource situation,” describing the effect of cost-cutting measures enacted under President Donald Trump.

“We have lost employees in the agency, in our division and on our case team,” Cohen said during the morning hearing.

Other agencies – including the Environmental Protection Agency, Department of Education and United States Agency for International Development – have faced drastic cuts under Trump advisor and Tesla CEO Elon Musk’s campaign to shrink government. The FTC, which enforces consumer protection and antitrust laws, has not seen large-scale reductions in force.

However, Cohen said at the hearing that some employees on the case took a resignation offer sent out in January, and others have resigned for other reasons, or are scheduled to be on leave during the trial, with a hiring freeze in force.

Trump signed an executive order in February forbidding government agencies to hire more than one employee for every four who leave.

The FTC accused Amazon in 2023 of using “deceptive user-interface designs known as ‘dark patterns’ to trick consumers into enrolling in automatically renewing Prime subscriptions.”

Cohen said the case over what he called the world’s largest subscription program – which Amazon says has more than 200 million subscribers worldwide – involves claims worth at least $1 billion.

Amazon has denied any wrongdoing. The lawsuit also names three of its senior executives as defendants.

Cohen cited new rules limiting FTC attorneys to buying legal proceeding transcripts on the cheapest delivery schedule, which means they may take weeks to arrive.

The Trump administration has also decided not to renew the lease on the building where most FTC attorneys work, so staff may be required to move offices in the middle of trial preparation, Cohen said. Travel accounts for FTC staff have been limited, he said.

“If you are in crisis now as far as resources, how are things going to be different in two months?” Chun asked.

“I cannot guarantee that things won’t be even worse,” Cohen replied. But he said a delay would relieve strain on attorneys.

Amazon attorney John Hueston had urged the judge not to reschedule, saying trial attorneys come and go in every case, “DOGE or no DOGE,” referring to Musk’s Department of Government Efficiency. Reuters