ARTICLE · 28 APRIL 2024

Foreign Investment In Space Sector

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The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India has revised the terms governing FDI policy of 2020 for the space sector in India, vide Press Note no. 1 dated 4 March 2024.

IndiaGovernment, Public Sector

The Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India has revised the terms governing foreign direct investment ("FDI") policy of 2020 ("FDI Policy") for the space sector in India, vide Press Note no. 1 (2024 Series) dated 4 March 2024 ("Press Note").

SUMMARY AND BACKGROUND OF THE AMENDMENT

1. Initially, para 5.2.12 of the FDI Policy allowed 100% of FDI under the government approval route solely for satellite establishment and operations, subject to the sectoral guidelines of Department of Space/ Indian Space Research Organisation (ISRO).

2. With an aim to streamline investment procedures in India and emphasizing various facets of the space sector, the Press Note has amended para 5.2.12 of the FDI Policy to align with the objectives set forth in the Indian Space Policy 2023 by segregating the space sector into different sub-categories as follows:

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