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But the private sector hasn’t had the same level of success, with Indian startups trailing their counterparts in China. Eager to turn that around ahead of national elections expected in April and May, Modi’s cabinet last week approved rules designed to encourage foreign investment in rocket and satellite manufacturing.
While the Indian Space Research Organisation (ISRO) is one of the top national space agencies in the world, the private sector was slow to develop because the government allowed only a few vendors and manufacturers to participate.
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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 ...