Space Sector FDI: "For the private sector, it opens doors to new business opportunities, it presents an opportunity to leverage private investments to enhance space capabilities, access to cutting-edge technologies to accelerate and develop next-gen space products, and collaboration with global players," Ananthasayanam said.
New Delhi, May 5 (PTI) The government's decision to ease foreign direct investment (FDI) in the space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say.
The Indian government is considering further relaxing foreign direct investment (FDI) rules in the space sector to attract foreign players, according to a senior official. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), Rajesh Kumar Singh, highlighted the potential for collaboration with Saudi Arabian companies in sectors such as aviation, pharma, renewable energy, and food processing. He also mentioned the scope for investment in the space sector, particularly in areas such as artificial intelligence, robotics, and cyber security.