100% FDI in space sector is a game changer: IN-SPACe Chairman Pawan Goenka | india business news
Bengaluru: A day after the Union Cabinet, in line with the Centre’s reforms space zoneAllowing 100% foreign direct investment (FDI) under the automatic route, the space regulator and promoter is the Indian National Space Promotion and Authorization Center (in the space, chairman Pawan Goenka called it a “game-changing decision” that will take India to new heights in the space sector.
Praising PM Narendra Modi’s vision, Goenka said the move will encourage participation of non-governmental organizations in space research and manufacturing. “By opening the doors to large-scale investment and global collaboration, this move will transform India’s space capabilities,” he said.
Elaborating on the impact, Goenka said the reform has come at an opportune time when the space sector is witnessing a huge increase in investment globally.
“According to industry reports, over $37 billion has been invested in the space sector in the last three years alone as investors are confident of its long-term potential. A large portion of this capital is flowing into space startups working on innovative technologies. by permission 100% FDIIndian space startups can now access this global pool of capital to expand manufacturing and scale up operations,” Goenka explained.
Citing estimates that the value of the space economy is estimated to exceed $1 trillion by 2040, Goenka said that with its talent pool and infrastructure, India is poised to capture a significant share of this fast-growing space economy. Is in good condition.
“This reform will empower private companies to develop cutting-edge space products and expand India’s global footprint,” Goenka said.
He said reforms in FDI are more than just attracting investment. “This is about transforming India’s space capabilities through collaboration and innovation in the private sector,” he said, expressing confidence that the reform will unleash the potential of Indian startups and position India as a leader in the global space sector. Will help you install it.
Praising PM Narendra Modi’s vision, Goenka said the move will encourage participation of non-governmental organizations in space research and manufacturing. “By opening the doors to large-scale investment and global collaboration, this move will transform India’s space capabilities,” he said.
Elaborating on the impact, Goenka said the reform has come at an opportune time when the space sector is witnessing a huge increase in investment globally.
“According to industry reports, over $37 billion has been invested in the space sector in the last three years alone as investors are confident of its long-term potential. A large portion of this capital is flowing into space startups working on innovative technologies. by permission 100% FDIIndian space startups can now access this global pool of capital to expand manufacturing and scale up operations,” Goenka explained.
Citing estimates that the value of the space economy is estimated to exceed $1 trillion by 2040, Goenka said that with its talent pool and infrastructure, India is poised to capture a significant share of this fast-growing space economy. Is in good condition.
“This reform will empower private companies to develop cutting-edge space products and expand India’s global footprint,” Goenka said.
He said reforms in FDI are more than just attracting investment. “This is about transforming India’s space capabilities through collaboration and innovation in the private sector,” he said, expressing confidence that the reform will unleash the potential of Indian startups and position India as a leader in the global space sector. Will help you install it.
