Under the revised norms, up to 100 percent foreign investment is allowed for the manufacture of components and systems for satellites, and for ground and user segments, through the automatic route.
In the DST budget proposed earlier this month, a new item was introduced wherein Rs 60 crore has been proposed for the financial year 2024-25 “to grant incentive for the space sector".
The launches by Skyroot Aerospace and Agnikul Cosmos of their launch vehicles Vikram-1 and Agnibaan, respectively, will also signify the startups first respective commercial missions.
“.India is a huge country where the user segments are still not explored to an extent, which we need to do. Here there is a huge potential. How do you bring the data available through our remote sensing satellites for commercial activity,” he added.