Inter-ministerial discussion under way to ease FDI norms in space sector: Official
The Hindu
Inter-ministerial discussion to liberalise FDI norms in space sector to attract overseas players & private cos. ISRO's Chandrayaan-3 mission has sparked interest from 3 G-20 countries.
An inter-ministerial discussion is going on to further liberalise foreign direct investment norms in the space sector to attract overseas players and private companies, a top government official has said.
The official said that there is huge scope for foreign companies to invest in India in this fast growing sector.
The proposal to ease foreign direct investment (FDI) norms in the space sector is "under inter-ministerial discussion," the official added.
However, the official did not disclose further details.
Presently, FDI in the space sector is allowed up to 100 per cent in the area of satellite establishment and operations through government route only.
After the touchdown by ISRO's Chandrayaan-3 spacecraft near the moon's South pole, three G-20 countries have expressed interest in possible collaborations or partnerships with India in the space sector.
In April, the government approved the Indian Space Policy 2023, that seeks to institutionalise private sector participation in the space sector, with ISRO focusing on research and development of advanced space technologies.
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