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India spurs space sector investment with raised limits on foreign funding | TechCrunch
TechCrunch
·
1y ago
Medial
The Indian government has updated its foreign direct investment (FDI) policy in the space sector, allowing for increased overseas investment. The move aims to attract global investors and companies to participate in India's space industry. The new policy includes specific categories and thresholds for foreign ownership, with potential for up to 100% investment in certain areas. This development follows recent reforms and initiatives by India to open up its space sector to private players and increase international collaboration. The country's space economy is projected to reach $44 billion by 2033, and the updated FDI norms are expected to boost India's presence in the global space economy.
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Related News
Decision to ease FDI in space sector to boost startup ecosystem in satellite making, assembly
Economic Times
·
1y ago
Medial
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.
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Govt eases FDI norms in space sector
Economic Times
·
1y ago
Medial
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.
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Finance Ministry Notifies Amended FDI Rules For Spacetech Sector
Inc42
·
1y ago
Medial
India has implemented a liberalized foreign direct investment (FDI) regime for the space sector to support startups and companies in attracting investments. As of April 16, the amended rules allow for 100% FDI via the automatic route in certain segments of the space sector, subject to sectoral guidelines. The move aims to provide funding opportunities for research, development, and launching products and services within the spacetech industry. India is currently home to more than 150 spacetech startups that have raised over $285 million in funding since 2016. The Indian spacetech industry is projected to reach $77 billion by 2030.
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Skyroot chief seeks 74% FDI in space launch vehicle companies
Economic Times
·
1y ago
Medial
The CEO of Skyroot Aerospace, the only Indian private player to successfully launch a rocket, has advocated for foreign direct investment (FDI) in space launch vehicle companies. He suggests that FDI should be at least 49% and ideally up to 74% to facilitate access to capital and enable growth at par with global standards. Skyroot recently raised $27.5 million in funding and aims to launch its second rocket, Vikram-I, in early 2024. The CEO also emphasizes the need to balance national security concerns with foreign investments in the strategic space sector.
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Easing FDI norms in space sector to attract foreign players, boost demand for high-tech jobs
Economic Times
·
1y ago
Medial
The recent easing of foreign direct investment (FDI) in India's space sector is expected to attract foreign players and startups, creating demand for high-tech jobs. With 100% overseas investment allowed in satellite component manufacturing, the move aims to bring in private investments, enhance space capabilities, and foster collaboration with global players. Experts believe this will transform India's space program and reduce the financial burden on the government. The increased competition and liquidity infusion from foreign investors are also expected to drive innovation and propel the growth of the industry.
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Space 2.0: India enters era of research, private investment to boost space tech
Livemint
·
1y ago
Medial
At the Mint India Investment Summit & Awards 2024, players from India's space sector discussed the rise in ancillary space startups. Challenges such as access to capital and the long gestation period for space tech prototypes were highlighted. However, panelists expressed optimism about the sector's growth potential, citing India's heritage in space technology and the emergence of innovation from the private sector. They also emphasized the need for domestic and foreign investment, support from ISRO, and the potential for a $100 billion space economy by 2040.
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Union Budget 2025: Government proposes 100% FDI in insurance sector
Economic Times
·
6m ago
Medial
The government plans to increase foreign direct investment (FDI) in the insurance sector to 100%, removing the current 74% cap. Announced by Finance Minister Nirmala Sitharaman, this change aims to attract global insurers, enhance competition, and introduce new market players. Initially, FDI limits were raised from 26% to 49% in 2015 and then to 74% in 2021. The proposal may also allow insurers to manage various business lines within one entity.
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Cabinet Approves 100% FDI For Certain Spacetech Sub-Sectors
Inc42
·
1y ago
Medial
The Indian government has approved 100% foreign direct investment (FDI) in certain segments of the country's space sector through the automatic route, in a move aimed at attracting potential investors. The approval by the union cabinet, chaired by Prime Minister Narendra Modi, will allow foreign investment in manufacturing components and systems for satellites, ground segment and user segment. The move is expected to bring more foreign investments into the sector, foster innovation, and enable global scale of operations for Indian spacetech players. Over 150 Indian spacetech startups have secured more than $285m in funding between 2014 and 2023.
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Indian space startups earlier had no support: Google-backed Pixxel
Inshorts
·
1y ago
Medial
India's private space sector is experiencing rapid growth, with the number of space startups doubling in a year and private investments increasing by 77% between 2021 and 2022. This growth comes after the Indian government opened up the space industry to the private sector in 2020. Pixxel, a startup deploying Earth imaging satellites, is among the success stories, having raised $71 million from investors, including Google. India aims to increase its share of the global space economy from 2% to 9% by 2030, and a new law to allow foreign investments into the sector is expected soon.
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Xtended Space secures funding from Hindustan Media Ventures
Livemint
·
1y ago
Medial
Xtended Space, a peer-to-peer AI storage platform, has raised an undisclosed amount of funding from Hindustan Media Ventures. The investment will help Xtended Space meet the rising demand for self-storage solutions in the property technology sector. The company aims to revolutionize India's real estate sector by connecting individuals who need additional space with those who have excess real estate. This partnership with Hindustan Media Ventures will enable Xtended Space to provide affordable storage services and generate a sustainable revenue model.
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