ARTICLE · 07 MARCH 2024

Unveiling India's Space Potential: A New Dawn For Foreign Investment

Obhan Mason

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On February 21, 2024, the Union Cabinet made a historic stride by sanctioning a groundbreaking revision to India's Foreign Direct Investment Policy ("FDI Policy") in the space sector.

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Manisha Khalkho

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On February 21, 2024, the Union Cabinet made a historic stride by sanctioning a groundbreaking revision to India's Foreign Direct Investment Policy ("FDI Policy") in the space sector. This pivotal decision marks a significant departure from India's traditional stance, signaling a bold shift towards leveraging private investment and expertise to drive the nation's space aspirations forward.

India's space domain, historically governed by stringent government control, saw some reform initiatives in 2020, aimed at fostering private sector involvement. However, these endeavors were confined to the government approval pathway, constraining the inflow of foreign investments into the sector. Even the proposed 2017 draft of the Space Activities Bill, designed to encourage FDI and private sector engagement in commercial space ventures, maintained rigorous regulations, stifling investment opportunities.

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