Spacetech Startups News Today

On Monday, the cabinet amended the FDI rules for the space sector, allowing 74% FDI under the automatic route for satellite manufacturing/operations and satellite data products. It also allowed up to 49% FDI under the automatic route for satellite launch vehicles and up to 100% FDI under automatic route for manufacturing of satellite sector components and sub-systems.

Space Sector Startups: On Monday, the cabinet amended the FDI rules for the space sector, allowing 74% FDI under the automatic route for satellite manufacturing/operations and satellite data products. It also allowed up to 49% FDI under the automatic route for satellite launch vehicles and up to 100% FDI under automatic route for manufacturing of satellite sector components and sub-systems.

The government on Wednesday eased FDI norms and permitted 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment.

Late on 21 February, the Union cabinet approved a new FDI policy for the space sector, which will allow FDI ranging from 49-100% in different areas.

GalaxEye Space, Dhruva Space, and Pixxel, along with the Indian Space Association (ISpA), call on the Indian government to implement a digital public infrastructure (DPI) for earth observation-based geospatial analytics. They propose an initiative that provides open access to satellite data archives, ground station networks, and cloud computing resources, enabling space startups to build applications.

GalaxEye Space, Dhruva Space, and Pixxel, along with the Indian Space Association (ISpA), call on the Indian government to implement a digital public infrastructure (DPI) for earth observation-based geospatial analytics. They propose an initiative that provides open access to satellite data archives, ground station networks, and cloud computing resources, enabling space startups to build applications.

The Indian tech startup funding winter showed no signs of a thaw and continued to face the effects of a slowdown throughout 2023

Speciale Invest managing partner Vishesh Rajaram told ET the soft landing was an inspirational moment. Pixxel founder and CEO Awais Ahmed took to Twitter to share a video of his team cheering on.

The Union Cabinet in April approved Indian Space Policy 2023 which aims to encourage private investment in the space sector. Meanwhile, several spacetech startups have emerged in India in the past few years with the likes of Skyroot and Pixxel receiving big investments.

Ecommerce sales — excluding smartphones — have surged 24% in Q2. Industry insiders and research firms indicate that the growth in smartphones is driven by premium devices. This and more in todays ETtech Morning Dispatch.