New Delhi, Feb. 21 -- The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved amendments in Foreign Direct Investment (FDI) policy on space sector paving way for greater FDI inflows and thereby contributing to growth of investment, income and employment.
Now, the satellites sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector.
"Under the amended FDI policy, 100% 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," an official statement said.
As per the amended FDI policy, upto 74% FDI would be allowed under automatic route in satel...