SpaceX sets up subsidiary in India

World’s richest person Elon Musk-owned SpaceX has incorporated its wholly-owned subsidiary in India to start local broadband operations. SpaceX’s satellite broadband arm Starlink aims to start broadband services in India from December 2022, with 2 lakh active terminals subject to permission from the government.

The company is charging a deposit of USD 99 or Rs 7,350 per customer and claims to deliver data speeds in the range of 50 to 150 megabits per second in the beta stage. The services of the company will compete with that of Reliance Jio, Bharti Airtel, Vodafone Idea in broadband and it will be a direct competitor to Bharti Group-backed OneWeb. The company is keen to work in rural areas for providing broadband services.

Important takeaways for all competitive exams:

• SpaceX founder & CEO: Elon Musk.
• SpaceX Founded: 2002.
• SpaceX Headquarters: California, United States of America.