India Notifies Rules To Allow up to 100% FDI in Space Sector
Moneylife Digital Team 18 April 2024
The Indian government has notified amended rules under the Foreign Exchange Management Act (FEMA) to operationalise its decision to allow up to 100% foreign direct investment (FDI) in the space sector. 
As per the notification issued by Union ministry of finance (MoF), 100% FDI has been allowed for the manufacturing and operation of satellites, satellite data products and ground segment and user segment. Up to 74% of FDI will be done through the automatic route; for investment beyond this limit, approval from the government will be required. 
In a release, MoF says automatic FDI up to 49% has also been allowed for launch vehicles and associated systems or sub-systems and the creation of spaceports for launching and receiving spacecraft. A government nod will be required for investments beyond 49%. 
"Manufacturing of components and systems or sub-systems for satellites, ground segment and user segment will be fully under the 100% automatic route," it says. 
According to the notification, the investee entity will be subject to sectoral guidelines as issued by the department of space from time to time. The new rules has come into effect from 16th April. 
In February, the Union Cabinet had approved the amendment to the FDI policy for the space sector, allowing up to 100% investment in certain categories.
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