Indian Finance Ministry amended FDI rules for the space sector, enabling up to 100% foreign investment, effective April 16, ahead of Elon Musk's visit.
The Indian Finance Ministry has notified amended rules under the Foreign Exchange Management Act to operationalise up to 100% foreign direct investment (FDI) in the space sector, with effect from April 16. This move comes ahead of Elon Musk's visit to India, where he is expected to meet space startups, discuss Starlink plans, and announce electric vehicle investment plans. The amendments include new liberalised entry routes and provide clarity for FDI in satellites, launch vehicles, associated systems, and spaceports.
April 17, 2024
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