Backed A Space Champion: Sunil Mittal On France's Rs 6,400-Crore Investment In Eutelsat
With over 600 LEO satellites in orbit through OneWeb, Eutelsat is positioning itself alongside Starlink and Amazon’s Project Kuiper as one of the few global-scale satellite broadband operators.
The decision of the French government to further invest in satellite operator Eutelsat reflects strategic confidence in the company's position, according to Sunil Bharti Mittal, co-chairperson of the Eutelsat Group.
The French government has invested €717 million or approximately Rs 6,450 crore in Eutelsat, increasing its stake to over 26%. The move is aimed at advancing Europe's satellite communications strategy through Eutelsat's GEO-LEO (Geostationary Orbit–Low Earth Orbit) hybrid model, in which India's Bharti Enterprises is a significant shareholder.
"I am delighted that under the leadership of President Macron, the French state has decided to back Eutelsat as the European Space Champion and increased its shareholding by injecting a sizeable investment into the company," the chairperson of Bharti Enterprises said.
In parallel with the capital infusion, Eutelsat has entered into a €1-billion or approximately Rs 9,000-crore long-term agreement with the Direction Générale de l'Armement, the French Ministry of Armed Forces' procurement agency. The agreement reserves satellite capacity on Eutelsat’s LEO network developed by OneWeb, in which Bharti Enterprises is an anchor investor.
We are also thrilled to welcome the French armed forces ministry, DGA, partnership with Eutelsat in a long term €1B contract to reserve capacity on Eutelsat's low-Earth orbit OneWeb constellation for its mission critical needs.Sunil Mittal
Satellite operator Eutelsat-OneWeb (Source: NDTV Profit)
satellite operator The investment is part of a broader €1.35-billion or approximately Rs 12,150-crore capital raise by Eutelsat. Key contributors include the French state, Bharti Space Ltd., CMA CGM, and Le Fonds Stratégique de Participations. Bharti's contribution stands at €31.4 million or approximately Rs 280 crore and its shareholding in Eutelsat is expected to rise to 18.7% after the transaction is completed.
In India, satellite communications are drawing increased attention. Earlier this month, SpaceX's Starlink received approval to operate in India. OneWeb, already authorised by the Indian National Space Promotion and Authorization Center, is awaiting final clearances including spectrum allocation. The French government's commitment may give further traction to the India rollout.
Eutelsat forecasts strong growth in the satellite connectivity sector. The LEO business-to-business connectivity market, valued at over $2.1 billion in 2025, is projected to grow at a 28% compound annual rate until 2029. The company expects LEO revenues to rise 50% year-on-year in 2025–26.
With a presence in over 50 countries and over 600 LEO satellites already in orbit through OneWeb, Eutelsat is positioning itself alongside Starlink and Amazon’s Project Kuiper as one of the few global-scale satellite broadband operators. Bharti's investment secures India a role in this ongoing global shift toward LEO-based internet delivery.
