USISPF Applauds India for Full FDI in Space Manufacturing Sectors
The US-India Strategic Partnership Forum commended India and the Department of Space for authorizing 100 percent Foreign Direct Investment (FDI) across all three domains of space manufacturing. "The USISPF congratulates the Government of India and the Department of Space for permitting 100 percent Foreign Direct Investment (FDI) in all three sectors of space manufacturing with 74 percent in automatic route for manufacturing of satellite, satellite data products, ground segment and user segment", according to a statement by the Forum.
Moreover, automatic FDI of up to 49 percent for launch vehicles and associated systems and subsystems, adding that 100 percent FDI in automatic route for manufacturing of components and system/subsystems for satellites, ground segment, and user segment. "This strategic decision signifies a positive step in the right direction, promising a substantial boost to manufacturing companies operating within the space sector", it added.
The USISPF emphasized that this move is anticipated to unleash India's space sector potential by encouraging increased private involvement, thereby representing a significant stride towards self-reliance and heightened international recognition for India's space initiatives. Moreover, it is poised to bolster collaboration between the US and India in the space domain, spanning both private and public sectors.
As per the statement, the USISPF eagerly anticipates partnering with governmental and industrial stakeholders, providing assistance in nurturing alliances, enabling technology transfers, and propelling joint endeavors that resonate with shared strategic objectives. This cooperative stance reaffirms their dedication to advancing the US-India alliance in the ever-evolving landscape of space exploration and technology.