look news india
New Delhi: India has decided to liberalize the space sector by amending its Foreign Direct Investment (FDI) policy. Industry sources say the Cabinet decision is likely to lead to investment of $4 to 5 billion in the next 3 to 5 years in all sub-sectors of the Indian space industry such as satellite manufacturing, launch vehicles, ground segment solutions and space exploration. related services.
According to companies working in the Indian space sector, the move will allow other global giants including SpaceX, Virgin Galactic, Starlink, Amazon Blue Origin, Airbus Defense and Space, Rocketlab, Maxar Technologies and Eutelsat-OneWeb to enter and launch satellites. Will be allowed. It may also open doors for the Indian market.
The Union Cabinet approved the policy of 100 per cent FDI in manufacturing of systems or sub-systems and components for satellites. At the same time, 74 percent FDI has been allowed in satellite manufacturing and operation, satellite data products, ground segment and user segment. More than 74 percent of the investment in these activities is made by the government.
Along with this, the FDI limit under the automatic route has been fixed at 49 percent in the development of launch vehicles and related systems and construction of spaceports for the launch and reception of spacecraft.
Indian Space Association said that if we talk about financial estimates, it is difficult to estimate the exact amount of investment. But the new FDI policy is expected to bring significant investment in the next 3 to 5 years.
It is estimated that all sub-sectors of India's space industry such as satellite manufacturing, launch vehicles, ground segment solutions and related services can attract investments of $4 to 5 billion in the next 3 to 5 years.