Modi Govt's New FDI Policy On Space Sector To be A Game-Changer, Says Dharmendra Pradhan
Key Points
Union Minister Dharmendra Pradhan on Thursday said that the Narendra Modi government's amendment in Foreign Direct Investment (FDI) policy on space sector will be a game-changer.
Bhubaneswar, Feb 22: Union Minister of Education and Skill Development & Entrepreneurship, Dharmendra Pradhan on Thursday said that the Narendra Modi government's amendment in Foreign Direct Investment (FDI) policy on space sector will be a game-changer.
In a post on X, formerly known as Twitter, Pradhan said the initiative will encourage large investments from the private sector, add scale to Indian space start-ups through FDI, create income, employment and opportunities for entrepreneurship and make India self-reliant in the space segment.
PM @narendramodi ji’s approval to ammendment to FDI Policy in the space sector to further liberalise it will be a game-changer.
This will encourage large investments from private sector, add scale to Indian space start-ups through FDI, create income, employment and… pic.twitter.com/topg7OdWff
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✨On Wednesday, the Union Cabinet chaired by Prime Minister Narendra Modi approved the amendment in Foreign Direct Investment (FDI) policy on the space sector.
Under the amended FDI policy, 100% FDI is allowed in the space sector. The liberalized entry routes under the amended policy are aimed to attract potential investors to invest in Indian companies in space.
Read More: Space Industry Welcomes New FDI Norms, Expects $25 Bn Fresh Investment In 10 Years