In an attempt to welcome private investment in the space industry, the Indian government hinted that it may liberalise foreign direct investment (FDI) norms for the space sector.
Addressing a road show, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh on Friday said: "We've tried to maintain an almost Open Sky policy for almost all sectors of the economy. Though that liberalisation will continue and we may expand it further to even some of our sectors like Space as well”.
Another senior official on Thursday, Rajeev Jyoti, director (Technical Directorate), Indian National Space Promotion and Authorisation Centre (IN-SPACe), said that the policy is “in the final stages”.
Jyoti, in his speech, said that the FDI policy would be aligned with the Indian Space Policy, which was released in April 2023.
“It will enable investments across a wide spectrum of space-related activities such as satellite manufacturing and operations, satellite data products and value addition, and manufacturing of components and systems”, Jyoti said.