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IIFCL seeks infra tag for space sector; keen to finance satellite vehicles manufacturing: MD

Livemint

Livemint · 7m ago

IIFCL seeks infra tag for space sector; keen to finance satellite vehicles manufacturing: MD

State-owned infrastructure finance company IIFCL has urged the Indian government to include the space sector in the harmonized list of infrastructure, in order to facilitate easier financing for satellite vehicle manufacturing in the country. Currently, IIFCL's subsidiary IPL provides advisory services to the Indian Space Research Organisation (ISRO), and has assisted in the transfer of 13 satellites from ISRO to NewSpace India Ltd (NSIL). IIFCL is seeking to engage with the space sector by providing funding for satellite vehicles and related areas. The government's recent liberalisation of the FDI policy in the space sector has increased private sector participation.

Related News

Decision to ease FDI in space sector to boost startup ecosystem in satellite making, assembly

Economic Times

Economic Times · 1y ago

Decision to ease FDI in space sector to boost startup ecosystem in satellite making, assembly

The recent decision by the Indian government to ease Foreign Direct Investment (FDI) norms in the space sector is expected to boost the startup ecosystem in areas such as launch vehicles and satellite manufacturing. The move will allow Indian companies to integrate into global space supply chains and foster innovation. The government has divided the satellite sub-sector into three categories with defined limits for foreign investment, with up to 74% FDI allowed in satellite manufacturing and operation, satellite data products, and ground and user segments. The decision is seen as crucial for the growth of the private space sector in India.

Govt eases FDI norms in space sector

Economic Times

Economic Times · 1y ago

Govt eases FDI norms in space sector

The government has eased Foreign Direct Investment (FDI) norms in the space sector to attract overseas players and private companies. The satellite sub-sector has been divided into three activities with defined limits for foreign investment. Up to 74% FDI is allowed under the automatic route in satellite manufacturing and operation, satellite data products, and ground and user segments. Beyond this limit, government approval is required. Additionally, up to 49% FDI is allowed through the automatic route for launch vehicles and associated systems, with 100% permitted for manufacturing components and systems/sub-systems for satellites.

Finance ministry notifies FDI in space sector; gives better access to capital, say startups

Economic Times

Economic Times · 1y ago

Finance ministry notifies FDI in space sector; gives better access to capital, say startups

The Indian government has allowed foreign direct investment (FDI) in the space sector, allowing Indian space startups to access global capital. Under the new rules, 74% FDI is permitted for satellite manufacturing, up to 49% for launch vehicles, and 100% for manufacturing components and systems. Investments in spaceports will require government approval beyond 49%. The move is expected to provide regulatory clarity and boost investments in India's space sector. Startups such as Skyroot Aerospace and Agnikul have welcomed the decision.

Cabinet approves Rs 1,000-crore VC fund for space startups

Money Control

Money Control · 8m ago

Cabinet approves Rs 1,000-crore VC fund for space startups

The Indian government has approved a venture capital (VC) fund worth Rs 1,000 crore to support the growth of space startups. The fund, planned to be deployed over a period of five years, will provide early-stage funding for startups in the space sector. Managed by a professional manager, the fund aims to drive innovation in satellite technology, launch vehicles, and space applications, and support approximately 40 startups. By boosting employment across the space supply chain, the initiative seeks to position India as a leading space economy and foster a vibrant innovation ecosystem.

IN-SPACe launches SBaaS, to boost private sector payload opportunities

Economic Times

Economic Times · 2m ago

IN-SPACe launches SBaaS, to boost private sector payload opportunities

The Indian National Space Promotion and Authorization Centre (IN-SPACe) launched the Satellite Bus as a Service (SBaaS) initiative to enhance private sector involvement in satellite development. This initiative aims to provide modular small satellite platforms designed by Indian non-governmental entities, easing access for startups and private players. Through a two-phase rollout, it seeks to boost innovation and reduce import reliance, ultimately positioning India as a global service provider for small satellite bus and payload services.

India plans 25 small satellite launches annually with three SSLVs: IN-SPACe chairman

Economic Times

Economic Times · 4m ago

India plans 25 small satellite launches annually with three SSLVs: IN-SPACe chairman

India plans to have three fully operational small satellite launch vehicles within a year, capable of launching 25 satellites annually, boosting its position in the global space market. Priorities include small satellite launches, manufacturing, and ground stations. While there are challenges, such as the lack of commercial ground stations and a regulatory framework, India aims for a $44 billion space economy by 2033. The focus is on fostering innovation, investment, and creating successful space startups.

Infosys-backed GalaxEye plans new satellite to meet global demand for geospatial data

Economic Times

Economic Times · 27d ago

Infosys-backed GalaxEye plans new satellite to meet global demand for geospatial data

Infosys-backed space tech startup GalaxEye plans to develop a new imaging satellite to meet the increasing global demand for geospatial data in agriculture, mining, and defense sectors. The Bengaluru-based company aims to launch the satellite with a resolution of 0.5 meters, improving upon its first satellite, Mission Drishti. Utilizing proprietary SAR and optical MSI technology, GalaxEye seeks to provide all-weather information, reduce revisit times, and enhance its manufacturing capabilities to support expanding international defense markets.

ISRO To Transfer Complete Tech, Design And Manufacturing Rights Of SSLVs To Private Players: Pawan Goenka

OutlookIndia

OutlookIndia · 4m ago

ISRO To Transfer Complete Tech, Design And Manufacturing Rights Of SSLVs To Private Players: Pawan Goenka

The Indian Space Research Organisation (ISRO) is transferring the technology, design, and manufacturing rights of Small Satellite Launch Vehicles (SSLVs) to private companies. This move, as articulated by IN-SPACe Chairman Pawan Goenka, represents a significant milestone in India's space privatization efforts. Three companies have been shortlisted for this initiative, with plans to select two. These private firms will take over SSLV production in India, reflecting a transformative shift in the country's space industry dynamics.

Lack of dedicated captive semiconductor fab for space applications a developmental gap: Economic Survey

Economic Times

Economic Times · 11m ago

Lack of dedicated captive semiconductor fab for space applications a developmental gap: Economic Survey

The lack of a dedicated semiconductor fab for space applications in India is seen as a developmental gap, with limited market opportunities in the sector. Challenges in commercializing space technologies include a niche and competitive marketplace, pricing constraints, and limited demand. The government's focus is on increasing demand, particularly from government departments, while exploring opportunities for private sector participation. Efforts are being made to invest in the Mohali Semiconductor Lab to make it suitable for space requirements. Private sector entities have made advancements in satellite development and functional payloads. The report also highlighted recent achievements in the private space sector, such as the launch of suborbital vehicles and the establishment of private launchpads and mission control centers.

ISRO's docking success could unveil new commercial opportunities for space firms

Economic Times

Economic Times · 5m ago

ISRO's docking success could unveil new commercial opportunities for space firms

ISRO's successful in-space docking demonstration could open new commercial avenues for the Indian private space sector, enabling advanced on-orbit servicing like refueling, repairing, and repositioning satellites. This technology is crucial for sustainable space operations and minimizing space debris. Industry experts highlight its potential to extend satellite lifespans and foster collaborations between private firms and government missions. However, significant investment in R&D and space-grade manufacturing is needed to realize its full potential in India.

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