Foreign investment up to 100 percent allowed in space sector

By: 600011 On: Apr 18, 2024, 5:08 PM


Delhi: A few days before Elon Musk's visit to India, the Ministry of Finance has issued a notification allowing foreign investment in the space sector. On February 21, the center announced the decision to allow up to 100 percent foreign investment in the space sector. 100 percent investment in the manufacturing of satellite components and 74 percent investment in satellite manufacturing and satellite service sectors has been allowed.

In the manufacturing sector of launch vehicles, the investment can be up to 49 percent. Elon Musk, who is coming to India, will also meet with the heads of Indian space startups. The meeting will be held in Delhi on the 22nd. The founders of Skyroot Aerospace, Agnikul Cosmos and Dhruva Space will participate in the event. Elon Musk's satellite internet service company Starlink and electric car manufacturing company Tesla are expected to announce investments in India.