Easing FDI norms in space sector to attract foreign players, boost demand for high-tech jobs
investment (FDI) in the space sector will help attract foreign players as well as startups and will boost demand for high-tech jobs, experts say. The government has eased FDI norms in the sector by allowing 100 per cent overseas investment in making components for satellites, as part of efforts to attract overseas players and private companies into the segment.
The provisions were notified last month.
Sreeram Ananthasayanam, Partner, Deloitte India, said that the recent amendment of higher FDI limits in the space sector is a significant step towards transforming India's space program, in terms of infrastructure development.
«For the private sector, it opens doors to new business opportunities, it presents an opportunity to leverage private investments to enhance space capabilities, access to cutting-edge technologies to accelerate and develop next-gen space products, and collaboration with global players,» Ananthasayanam said.
For the government, it reduces the burden on public finances for its usage of funds to enable space ecosystem in India, he said.
«This burgeoning space industry will create a high demand for high-tech jobs for engineers, scientists, and other skilled professionals. The initiatives by government organizations, academic institutes will create the talent pool for meeting the demand will further fuel innovation and propel India's spacefaring ambitions,» Ananthasayanam added.
He also said that manufacturing of subsystems related to launch vehicles, satellites and ground stations by the
