22 April 2024 – India has taken a major step ahead in its efforts to fully utilise the potential of space exploration and technology with its recent decision to permit 100% Foreign Direct Investment (FDI) in the satellite manufacturing sector. India hopes to spur the expansion of its space industry and take it to new heights by welcoming international investors.
This shift will have many advantages. First, it promotes cooperation between Indian organisations and international partners, which advances technology and knowledge sharing. These collaborations may result in the creation of cutting-edge satellite technology, improving India’s capacities for navigation, communication, earth observation, and other uses.
Moreover, the growth of the space industry presents enormous opportunities for the advancement of society. In domains such as disaster management, agriculture, climate monitoring, and networking, satellites are indispensable and contribute to the overall advancement and resilience of a country.
Conclusion
With “space is the limit” as its guiding principle, India’s move to liberalize foreign direct investment in the satellite manufacturing sector demonstrates its resolve to seize the limitless opportunities presented by space research and use them to advance humankind.
Source:Link
