Reducing barriers to foreign investment in space opens up a galaxy of opportunities, Indian Prime Minister Narendra Modi said on February 22 on his X account.
“We are charting new orbits for growth and innovation! “Our government has updated its investment policy in the space sector, which has opened up a galaxy of opportunities.”Modi wrote.
Commerce and Industry Minister Piyush Goyal said the reform of the investment system will increase the flow of investments, expand the business sector, increase income and boost the labor market.
Reform “will give India access to the latest technological advances and financial resources not only from domestic investors but also from foreign investors”said Lt. Gen. Anil Kumar Bhatt, head of the Indian Space Association.
It should be noted that the reform divided the space sector into three subsectors, each of which has its own restrictions on foreign investment.
Thus, in the satellite production subsector, foreign investment of up to 74% is allowed. At the same time, the government can manually authorize projects that rely entirely on foreign investment.
Source: Rossa Primavera
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