CHENNAI: The Centre may loosen the grip on foreign fund flow into the country’s private space players, as it seeks to promote private sector industry in this space and attract foreign investments.
Speaking at an event, the Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said the government may liberalise the foreign direct investment (FDI) norms for the Space sector. “We’ve tried to maintain an almost Open Sky policy for almost all sectors.
Though liberalisation will continue and we may expand it further to even some of our sectors like space as well,” he said. Singh at a road-show for Vibrant Gujarat Summit to be held in January 2024 added that this will improve ease of doing business. The Indian National Space Promotion and Authorization Centre (IN-SPACe), a commercial space activity promotional body, is working on a revised FDI policy.