SpaceX CEO Elon Musk Blames Unnamed ‘Oligarchs’ For Starlink Delay In India

• Starlink received a Global Mobile Personal Communication by Satellite license from the Department of Telecommunications in June 2025, valid for 20 years.
• Starlink still needs security clearance, including from the Ministry of Home Affairs, and foreign-investment approval tied to its wholly foreign-owned structure.
• “We’re standing ready to serve India once India is ready,” vice president of Starlink business operations reportedly said at an industry conference in New Delhi on Wednesday.

SpaceX chief Elon Musk said on Wednesday that unnamed “oligarchs” in India are blocking Starlink from launching in the country to protect a “monopolistic chokehold” on connectivity.

He did not name anyone or offer evidence. In a post on X, he wrote that Starlink was “being blocked by certain oligarchs” and added, “you can guess who they are.”

“Starlink in India would enable high-speed, affordable Internet connectivity for those who can’t afford current prices or who don’t have a connection at all!,” Musk wrote in a separate post.

Starlink’s Pursuit Of India’s Satellite Broadband Market

The Indian mobile market is dominated by Reliance Industries and Bharti Enterprises. Their groups hold satellite licenses through Jio Satellite Communications and Eutelsat OneWeb.

Starlink received a Global Mobile Personal Communication by Satellite license from the Department of Telecommunications in June 2025, valid for 20 years, and authorization from space regulator IN-SPACe the following month.

Starlink still needs security clearance, including from the Ministry of Home Affairs, and foreign-investment approval tied to its wholly foreign-owned structure. Spectrum assignment is also outstanding.

In June, Bloomberg reported, citing sources, that India froze final approvals for Starlink's commercial launch due to security concerns. However, SpaceX is still prepared, according to Lauren Dreyer, vice president of Starlink business operations. “We’re standing ready to serve India once India is ready,” Dreyer said at an industry conference in New Delhi on Wednesday, as reported by Bloomberg. She added that the company built its network specifically around the country’s security requirements.

SPCX Starlink Financials

Starlink is now the financial core of Musk’s SpaceX. In the company’s 2026 IPO filing, Connectivity—driven by Starlink consumer, enterprise, and government services—produced $11.4 billion of SpaceX’s $18.7 billion in 2025 revenue, about 61%, and was the only division with an operating profit, at roughly $4.4 billion.

In the second quarter of 2026, Connectivity revenue rose 66% to $4.3 billion, with operating income of $1.66 billion, even as the company overall posted a net loss. Starlink ended June with 12 million subscribers, double a year earlier, though average revenue per user fell to about $66 a month.

How Did SPCX Retail Traders React?

On Stocktwits, retail sentiment around SPCX stock stayed within the ‘bullish’ territory over the past 24 hours, while message volume remained at ‘high’ levels.

SPCX stock is currently trading at around $168, higher than its IPO price of $135, but below its all-time high of around $226, hit in June. 

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