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India's decision to revise its Foreign Direct Investment (FDI) norms for the space sector is expected to bring in fresh foreign investments up to $25 billion over the next decade and result in a wave of collaborations between Indian and foreign ...
India's private space industry has welcomed the easing of its Foreign Direct Investment (FDI) policy, describing it as a "pivotal move" to boost investments and increase the country's share in the global space economy. Industry leaders believe that the government's decision to permit 100% overseas investment in satellite component manufacturing and up to 49% FDI through the automatic route for launch vehicles and associated systems or subsystems has provided much-needed clarity for the sector.
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.
Meet Pawan Kumar Chandana, the IIT graduate who quit ISRO to start a space company worth Rs 1300 Crores that might rival Elon Musk’s SpaceX.
Together with fellow IITian and ex-ISRO colleague Naga Bharat Daka, Pawan Kumar Chandana co-founded India’s first private space company Skyroot Aerospace.