Elon Musk's Starlink licence application in process, ownership 'declaration' received: Report
Elon Musk's satellite venture Starlink is under process, and the government is examining the security aspects, according to sources. The FDI and financial aspects are in sync with the requirements and conditions, sources said, adding that the ownership 'declaration' has also been received from Starlink.
Two persons familiar with the process said the due diligence is currently on, and security aspects are being looked into. Billionaire entrepreneur and Tesla boss Musk is scheduled to visit India on April 21 and 22, and the action-packed 48 hours may see him announce the company's mega investment plans for the country.
Musk's much-awaited visit to India comes just weeks after the government announced a new electric vehicle policy, under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like Tesla. Last week, Musk confirmed his visit to India and his planned meeting with Prime Minister Narendra Modi, as he penned a post on X saying, "Looking forward to meeting with Prime Minister @NarendraModi in India".
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