FDI In Space: An Indian Space Odyssey

The Indian Government has recently released a press release, approving amendments to the Indian foreign direct investment policy (FDI Policy) in the space sector. While the specific amendments to the FDI Policy and the consequential amendments to the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019 (NDI Rules) are yet to be notified, the proposed amendments aim at liberalizing the sector and providing impetus to its growth in India. This move aligns with India's vision of expanding the space sector and follows the progressive developments undertaken by the Indian Space Association to encourage collaboration between public and private players and the recent release of the Indian Space Policy 2023 which aims to create a thriving space ecosystem for government and non-government entities.