Govt notifies FDI norms for space; move may bring in $44 bn by 2033

Industry expects $20 billion investment in the sector in 10 years

The government on Tuesday notified the amended FDI norms in the space sector, clearing the deck for 100 per cent overseas investment in making components for satellites, 74 per cent in satellite manufacturing and operations, and 49 per cent in launch vehicles.

Anything beyond the limit will need government approval.

The recent move comes against the backdrop of tepid foreign investment into the country’s space sector over the last two years.

Inflow of investment has been mainly affected by the challenges in the global economy, including factors such as high inflation, expansionary monetary policy and recessionary trends in key developed