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Tag: space sector

  • India Greenlights Up To 100% FDI In Space Sector

    India Greenlights Up To 100% FDI In Space Sector

    The satellites sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector…reports Asian Lite News

    The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the amendment to Foreign Direct Investment (FDI) policy on the Space sector.

    The satellites sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector, an official statement added.

    The statement added that the Indian Space Policy 2023 was notified as an overarching, composite and dynamic framework to implement the vision for unlocking India’s potential in the Space sector through enhanced private participation.

    “The said policy aims to augment space capabilities; develop a flourishing commercial presence in space; use space as a driver of technology development and derived benefits in allied areas; pursue international relations and create an ecosystem for effective implementation of space applications among all stakeholders,” it said.

    “As per the existing FDI policy, FDI is permitted in the establishment and operation of Satellites through the Government approval route only. In line with the vision and strategy under the Indian Space Policy 2023, the Union Cabinet has eased the FDI policy on the Space sector by prescribing liberalized FDI thresholds for various sub-sectors/activities,” the statement added.

    Department of Space consulted with internal stakeholders like IN-SPACe, ISRO and NSIL as well as several industrial stakeholders. NGEs have developed capabilities and expertise in the areas of satellites and launch vehicles. With increased investment, they would be able to achieve sophistication of products, global scale of operations and enhanced share of global space economy, it said.

    The proposed reforms seek to liberalise the FDI policy provisions in space sector by prescribing liberalised entry route and providing clarity for FDI in Satellites, Launch Vehicles and associated systems or subsystems, creation of Spaceports for launching and receiving Spacecraft and manufacturing of space-related components and systems, it added.

    “Under the amended FDI policy, 100 per cent FDI is allowed in space sector. The liberalized entry routes under the amended policy are aimed to attract potential investors to invest in Indian companies in space,” it stated.

    This increased private sector participation would help to generate employment, enable modern technology absorption and make the sector self-reliant, the release stated, adding that it is expected to integrate Indian companies into global value chains. With this, companies will be able to set up their manufacturing facilities within the country duly encouraging ‘Make In India (MII)’ and ‘Atmanirbhar Bharat’ initiatives of the Government. (ANI)

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  • ‘Space sector moving towards constellation of satellites’

    ‘Space sector moving towards constellation of satellites’

    He said there are estimates that 10,000 satellites are likely to be launched in the near future…reports Asian Lite News

    The global space sector is moving away from geo-statellites and towards the constellation of small satellites in low earth orbit, a senior official of Indian National Space Promotion and Authorisation Centre (IN-SPACe) said on Saturday.

    In his address at the conference ‘Space Technology: The Next Business Frontier’, Prof. Rajeev Jyoti, Distinguished Scientist, Director (Technical), IN-SPACe, said the space sector, in the next 10 years, is shifting from geo-satellites to constellation of satellites.

    He said there are estimates that 10,000 satellites are likely to be launched in the near future.

    Jyoti said the space sector must be taken forward by entrepreneurs and space business instead of the Indian Space Research Organisation (ISRO) being the only integrator of the entire space ecosystem.

    “According to a newly-announced policy, if a space object is not functionally working, it has to be removed within five years in order to avoid space debris in place of the earlier 25 years. We have to develop technologies for active space debris removal,” he said.

    The conference is organised by the Indian Institute of Technology Madras (IIT Madras), the US Consulate General Chennai, and the Indian Space Association.

    Drew Schufletowski, Minister Counselor for Economic, Environment, Science and Technology Affairs, US Embassy, New Delhi, said, India and the US are natural partners in the space sector and there is immense opportunities for expanding bilateral and multilateral collaboration in space sector.

    Back in 1963, the National Aeronautics and Space Administration (NASA) and ISRO worked together to launch the first Indian sounding rocket.

    Since then, the two space agencies have collaborated on numerous projects including moon exploration, Schufletowski said.

    “Currently, NASA and ISRO are collaborating on one of NASA’s biggest project – the NASA-ISRO SAR Mission (NISAR), a joint Earth-observing mission, he said.

    On September 30, 2014, the NASA and the ISRO signed a partnership to collaborate on and launch NISAR. The mission is targeted to launch in early 2023.

    Dr. Mylswamy Annadurai, Vice President, Tamil Nadu State Council for Science and Technology and former senior official of the ISRO said: “This conclave is a focused project with the outcome being a white paper that will lead to establishment of ‘Association of Space Entrepreneurs in the Indo-Pacific’ (ASEIP).

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