Mr. Patompob Suwansiri, CEO of Thaicom Public Company Limited (SET: THCOM), announced that IPSTAR (India) Private Limited (IPI), a subsidiary of THCOM, has received an approval from the Indian government to provide satellite services in India.
The authorization was granted on December 5, 2024, by the Indian National Space Promotion and Authorization Center (IN-SPACe), an agency under the Indian government’s Department of Space. IN-SPACe plays a crucial role in promoting, supporting, licensing, and regulating space technology activities in India.
Mr. Patompob added that the demand for broadband satellite services in India is ten times higher than Thailand. He is confident that the Indian market alone will generate an additional 20-30% in revenue for Thaicom, potentially accounting for one-third of Thaicom’s current total revenue.
As for Thaicom satellite services in India, the company will focus on providing broadband solutions to improve digital infrastructure, particularly in rural and remote areas. This initiative aims to significantly reduce communication inequality, while also addressing the growing demand for broadband services across the country.
Furthermore, IPSTAR India’s receipt of the license aligns with the Indian Space Policy, which encourages government support for private sector involvement in driving the development of space businesses in India.
As for the Data Center and Cloud businesses, Mr. Patompob stated that Thaicom has decided to collaborate with companies in the group, including Gulf Energy Development Public Company Limited (SET: GULF) to synergize the satellite technology in the future.
