• UGI USER
  • Feb 23, 2024
  • 19 Likes
  • 0 Comments

GOVT. APPROVES 100% FDI IN SPACE SECTOR

Why in the news?

  • Union Cabinet approves amendments to FDI policy for space sector.
  • Policy allows 100% FDI, aiming to attract investors to Indian space companies.
  • Signifies a significant step for India’s space industry.

Highlighting Specific FDI Limits and Routes:

  • Satellite manufacturing, operation, data products, and ground/user segment permit up to 74% FDI under automatic route.
  • Beyond 74%, a government route is required.
  • Launch vehicles and associated systems allow up to 49% FDI under automatic route, beyond which government route applies.
About Department of Space engaged with internal stakeholders:

·    IN-SPACe, ISRO, NSIL, and various industrial entities.

·    Non-governmental entities (NGEs) possess expertise in satellite and launch vehicle domains.

·    Establishment of manufacturing facilities in India supports ‘Make in India (MII)’ and ‘Atmanirbhar Bharat’ initiatives.