The revised foreign direct investment (FDI) policy for the country’s space sector is expected to be in place soon, Rajeev Jyoti, Director (Technical Directorate), Indian National Space Promotion and Authorisation Centre (IN-SPACe), indicated on Thursday. He said that the policy is “in the final stages.”
Mr. Jyoti was speaking on ‘space policy and what the future holds’ at a workshop on space and entrepreneurship, organised by the Indian Space Research Organisation (ISRO) units, in Thiruvananthapuram as part of the World Space Week - 2023 (WSW 2023) celebrations.
In a short presentation on IN-SPACe activities, Mr. Jyoti noted that the FDI policy will be aligned with the Indian Space Policy which was released in April. It will enable investments across a wide spectrum of space-related activities such as satellite manufacturing and operations, satellite data products and value addition, and manufacturing of components and systems.
Mr. Jyoti observed that investor confidence in the Indian space sector, which has now been opened up through a set of reforms, has gone up.
In April this year, Union Minister Jitendra Singh had informed the Rajya Sabha that, at present, FDI in space sector is permitted up to 100% in the area of satellites-establishment and operations, but only through the Government route.
The one-day workshop was attended by space sector start-ups.
Saji Gopinath, Vice-Chancellor, Digital University Kerala, who inaugurated the event, urged start-ups in the sector to take advantage of the conducive ecosystem in Kerala. Thiruvananthapuram is unique in terms of its concentration of space scientists, talent and ISRO units, Dr. Gopinath said.
S. Unnikrishnan Nair, Director, Vikram Sarabhai Space Centre (VSSC), who presided, said this year’s global theme for WSW, ‘Space and Entrepreneurship,’ was specially relevant for India which has opened up its space sector for private participation.
In the 21st century, the space sector has changed dramatically from the communism vs capitalism one-upmanship tussle of the Cold War-era. More and more non-governmental entities have entered the sector. Furthermore, the sector has also become increasingly multidisciplinary in nature, Dr. Unnikrishnan Nair said.
The workshop was organised jointly by the VSSC, the Indian Institute of Space Science and Technology, Liquid Propulsion Systems Centre and the ISRO Inertial Systems Unit.
Shooja A., Associate Director (Projects), VSSC, Kerala Space Park CEO G. Levin, Biju Prasad B., Chairman, Space and Entrepreneurship Committee, WSW-2023, senior ISRO officials, and representatives of start-ups attended the event.
