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India spurs space sector investment with raised limits on foreign funding
India has updated its foreign direct investment (FDI) policy related to the space sector to attract global investors and companies.
India has updated official rules in the space sector to attract global investors and companies, after opening it up to private players four years ago. However, the restrictions in foreign direct investments limited the country’s scope to attract international investors, and caused delay in funding of some of India’s growing space tech startups. On Wednesday, the Indian cabinet, led by Prime Minister Narendra Modi, approved an amendment in its FDI norms to allow increased overseas investment in the space sector, in some cases up to 100%.
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