Centre eases FDI norms in space sector to attract investors

NEW DELHI: The Union Cabinet chaired by Prime Minister Narendra Modi Thursday eased the foreign direct investment (FDI) norms in the space sector and has allowed up to 100% overseas investment in manufacturing components/sub-systems for satellites, ground segment, and user segment under the automatic route.

“Under the amended FDI policy, 100% FDI is allowed in space sector. The liberalized entry routes under the amended policy are aimed at attracting potential investors to invest in Indian companies in space,” the Centre said in a statement.