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According to Scindia, around 4.5 million bank accounts have been restricted, helping prevent potential fraud worth more than half a billion dollars
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Moneycontrol•10-10-2026, 17:37
India Allows No Monopolies, Scindia Clarifies Amid Starlink Row
  • •Communications Minister Jyotiraditya Scindia stated that India does not permit monopolies in any sector, addressing the ongoing controversy involving Elon Musk's Starlink.
  • •Scindia noted that three companies have received satcom licences, and operators can only begin services after fulfilling strict security requirements.
  • •Speaking at the India Mobile Congress 2026, Scindia highlighted India's rapid progress in 5G coverage, artificial intelligence, and digital infrastructure.
  • •The production-linked incentive scheme has generated Rs 1.10 lakh crore in incremental sales, Rs 25,000 crore in additional exports, and 30,000 jobs.

Key Questions Answered

Communications Minister Jyotiraditya Scindia stated that India does not allow monopolies in any sector. Addressing the controversy surrounding satellite communication services, he noted that three companies have received satcom licenses but must individually meet security requirements and milestones before beginning operations.

The government has granted satellite communication licenses to three operators: Starlink, Bharti-backed Eutelsat OneWeb, and Jio Satellite Communications.

The government introduced a financial fraud risk indicator that allows banks, payment platforms, and 1,600 agencies to act proactively on suspicious mobile numbers. This initiative has resulted in around 4.5 million bank accounts being restricted, preventing potential fraud worth over half a billion dollars.