Reliance Industries share price up 1% on Jio's partnership with SpaceX for Starlink services

The stock climbed 1% to ₹1,259.9 apiece on the National Stock Exchange (NSE) at 9:21 am.

In a regulatory filing, RIL said that Jio will make Starlink solutions available via its retail outlets and online storefronts. The Mukesh Ambani-led company will also establish a mechanism to cupport customer service installation and activation.

RIL said that the agreement with Elon Musk's SpaceX is part of Jio's commitment to make reliable internet fully accessible to all enterprises, businesses and communities in India. It added that Starlink complements JioFiber and JioAirFiber by offering high speed internet to most challenging geographies.

This agreement is subject to SpaceX receiving its authorisation to sell Starlink in India.

Mathew Oommen, Group CEO of Reliance Jio, said that it is Jio's top priority to provide affordable and high-speed broadband services to every Indian.

"Our collaboration with SpaceX to bring Starlink to India strengthens our commitment and marks a transformative step toward seamless broadband connectivity for all. By integrating Starlink into Jio’s broadband ecosystem, we are expanding our reach and enhancing the reliability and accessibility of highspeed broadband in this AI-driven era, empowering communities and businesses across the country," he added.

Gwynne Shotwell, President and Chief Operating Officer (COO) of SpaceX said, "We are looking forward to working with Jio and receiving authorization from the Government of India to provide more people, organizations and businesses with access to Starlink’s high speed internet services."