Union Minister Dharmendra Pradhan has lauded Prime Minister Narendra Modi’s decision to amend the Foreign Direct Investment (FDI) Policy in the space sector, asserting that it will have a transformative impact.
According to Pradhan, the amendment to the FDI Policy in the space sector is poised to revolutionize the industry by encouraging substantial investments from the private sector. This move is anticipated to provide a significant impetus to Indian space startups by facilitating FDI, thereby fostering innovation, growth, and competitiveness.
Moreover, Pradhan emphasized the socioeconomic benefits that will stem from this policy change, including the generation of income, employment opportunities, and avenues for entrepreneurship. By attracting private investments and fostering a conducive environment for innovation, the amended FDI Policy aims to catalyze the development of a robust space ecosystem in India.
Furthermore, Pradhan underscored the strategic significance of achieving self-reliance in the space segment. He expressed confidence that the liberalization of FDI regulations will not only bolster India’s technological prowess but also strengthen its position as a global leader in space exploration and innovation.
Dharmendra Pradhan hailed Prime Minister Modi’s approval of the amendment to the FDI Policy in the space sector as a game-changer. This progressive step is poised to unlock new opportunities, drive economic growth, and propel India towards self-reliance and excellence in the realm of space technology.
