NEW DELHI: The government may liberalize foreign direct investment norms in the country’s space sector as it expects further improvement in business, a top official said on Friday. Currently, foreign direct investment (FDI) in the space sector is allowed only through government routes up to 100 percent in the field of satellite creation and operation.
While addressing a roadshow event for the Vibrant Gujarat Summit scheduled to be held from January 10 to 12, 2024, Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), said the government has updated FDI norms could liberalize the country’s foreign investments. Space sector.
Speaking about the government’s policies, he said that liberalization of foreign direct investment in India has been substantially achieved, except in some strategic sectors.
“We have tried to maintain an almost Open Sky policy for almost all sectors of the economy. Although that liberalization will continue and we may extend it further to even some of our sectors, such as space.
The minister said India is also focusing on improving ease of doing business and ease of logistics, and in both cases, India’s “global rankings are rising”.
While addressing a roadshow event for the Vibrant Gujarat Summit scheduled to be held from January 10 to 12, 2024, Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), said the government has updated FDI norms could liberalize the country’s foreign investments. Space sector.
Speaking about the government’s policies, he said that liberalization of foreign direct investment in India has been substantially achieved, except in some strategic sectors.
“We have tried to maintain an almost Open Sky policy for almost all sectors of the economy. Although that liberalization will continue and we may extend it further to even some of our sectors, such as space.
The minister said India is also focusing on improving ease of doing business and ease of logistics, and in both cases, India’s “global rankings are rising”.
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