Skyroot chief seeks 74% FDI in space launch vehicle companies

The chief executive of Skyroot Aerospace, the only Indian private player to have successfully launched a rocket so far, has called for foreign direct investment (FDI) of up to 74% in space launch vehicle companies, while recommending that it should be a minimum of 49%.

ET had reported on September 25 that FDI up to 49% may be permitted in satellite launch vehicles and associated system operations.

“A bare minimum of 49% FDI is what we are looking at. If it can be increased to 74%, it would be an ideal scenario so that we can grow at par with global standards where we get equal access to capital compared to global companies,” Pawan Kumar Chandana told ET.