No imminent change to foreign investment strategy in space: In-Space’s Pawan Goenka
Mumbai: The Centre does not intend to alter its foreign direct investment (FDI) strategy in the space sector, said Pawan Goenka, chairman of the Department of Space-affiliated regulatory body for the space industry, Indian National Space Promotion and Authorization Centre (In-Space), on Monday.
Based on the Union government’s amended space FDI policy from February last year, India allows foreign investors to acquire up to 49% of a domestic space company that operates at the most critical sensitivity level without needing government approval. While the move enabled foreign funds to officially invest in India’s space startups, various parties have highlighted that the limited funding structure could hamper large funding rounds in the…
