India set to relax FDI norms in space sector in bid to give a boost to satcom

India is set to liberalise the foreign direct investment (FDI) policy for the space sector by allowing up to 74% overseas ownership through the automatic route and up to 100% through the government route to attract top dollars from marquee global investors in satellite communications, senior officials told ET.

Liberalised FDI limits are on the cards so that companies based in India can access the latest global technologies in a host of space-sector activities, including satellite manufacturing, satellite communications/operations and local production of satellite components, user devices and ground segment systems such as earth stations. Foreign direct investment up to 49% may also be permitted in satellite launch vehicle and associated system operations.