The Daily Brief A 2005 deal could cost India big today
26 snips
Jun 10, 2025 The podcast discusses a potentially costly fallout from a 2005 satellite deal for India due to a U.S. Supreme Court ruling. The legal battle with Devas Multimedia raises questions about national security and international arbitration. Additionally, insights into India's shrimp industry reveal how global market changes impact local companies. Together, these topics highlight the complexities of foreign investment and the delicate balance of diplomatic relations.
AI Snips
Chapters
Transcript
Episode notes
2005 Satellite Deal Crisis
- A cancelled 2005 satellite deal by Indian government has triggered a $1.5 billion legal dispute putting Indian global assets at risk.
- The deal's cancellation over strategic spectrum needs and political pressure has had long-term diplomatic and financial repercussions.
Devas-Antrix Satellite Deal
- ISRO's commercial arm Antrix signed a deal with Devas Multimedia to lease S-band spectrum for 12 years.
- The deal was canceled abruptly in 2011 by the Indian government citing national security concerns.
Dispute Escalates to $1.5 Billion
- Arbitration and tribunal awards against India have grown the claim from $562.5 million to about $1.5 billion with interest.
- India's refusal to pay has escalated the dispute globally, risking seizure of Indian assets abroad.