India, July 15 -- The Andhra Pradesh government has approved the space policy 4.0 aiming to attract foreign and domestic investments of INR 25,000 Cr (around $3 Bn) in the next 10 years.

The new space policy will stay in active for a term of five years and aims to create 5,000 direct and 30,000 indirect jobs in the high technology and space-linked sectors

Besides, Andhra plans to build two space cities in Sri Satya Sai District and Tirupati District under the new space policy. The state government also plans to form a committee which will vet applications by the participants to allot lands.

According to the new policy, a corporation will also be formed to coordinate infrastructure development, raise startup funds, attract investments, ...