Brief by Shorts91 Newsdesk / 07:21pm on 21 Feb 2024,Wednesday Business
The Indian government has approved up to 100% foreign direct investment (FDI) for select activities. Under the new policy, FDI in satellite manufacturing, operation, and related segments is set at 74% under the automatic route, with government approval required beyond this threshold. Launch vehicles and associated systems allow up to 49% FDI via the automatic route, while manufacturing components for satellites permits 100% FDI automatically. Consultations with stakeholders including ISRO and industry players preceded the decision, aiming to harness private investment for technological advancement and global competitiveness in India's space endeavors.
