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
— Dharmendra Pradhan (@dpradhanbjp) February 22, 2024

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

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