The government may liberalise foreign direct investment norms for the country’s Space sector, as it eyes further improvement in ease of doing business, a top official said on Friday.
Presently, Foreign Direct Investment (FDI) in the Space sector is allowed up to 100 per cent in the area of Satellites-Establishment and Operations through government route only.
While addressing a road-show event for the Vibrant Gujarat Summit to be held on January 10-12, 2024, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said, the government may liberalise FDI norms for the country’s Space sector.
Speaking on the government’s policies, he said, FDI liberalisation has substantially been achieved in India except for a few strategic sectors.
“We’ve tried to maintain an almost Open Sky policy for almost all sectors of the economy. Though that liberalisation will continue and we may expand it further to even some of our sectors like Space as well.
The Secretary said, India is also focusing on improving ease of doing business and ease of logistics and in both of these India’s “global ranking is on an upswing”.
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First Published: Oct 6 2023 | 4:05 PM IST
