TIL Desk/Business/Chennai/ India will soon come out with a new foreign direct investment (FDI) policy for the space sector, Indian Space research Organisation Chairman K. Sivan said on Monday.
In his address at the International Space Conference and Exhibition, organised by Confederation of Indian Industry (CII), on the theme ‘Building NewSpace in India’, Sivan, who is also Secretary of the Department of Space, said with India opening up its space sector for private players, there has been a lot of interest by the foreign companies to invest in India.
There is enormous scope for foreign companies to tie up with Indian companies in the space sector, he added. Sivan said the FDI policy is getting revised which would open up huge opportunities for foreign companies to invest in India.
Presently all FDI in the space sector has to be cleared by the government while the industry wants the investment under the automatic route. The Space Bill is being reviewed by various other ministries.
