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00:56
India liberalizes foreign direct investment for space sector
STORY: India liberalizes foreign direct investment for space sector
SHOOTING TIME: Feb. 23, 2024/ File
DATELINE: Feb. 24, 2024
LENGTH: 00:00:56
LOCATION: New Delhi
CATEGORY: TECHNOLOGY
SHOTLIST:
1. various of India gate
2. various of parliament building
3. various of Indian Space Research Organization (ISRO)
STORYLINE:
The Indian government has liberalized foreign direct investments (FDI) in its space sector in a bid to generate employment, enable modern technology absorption, and make the sector self-reliant, a federal government official confirmed on Thursday.
According to an official statement issued by the federal cabinet, Prime Minister Narendra Modi approved the amendment to FDI policy on the space sector at a cabinet meeting on Wednesday.
The satellite sub-sector has been divided into three different activities with defined limits for FDIs in each such sector.
"The non-government entities have developed capabilities and expertise in the areas of satellites and launch vehicles. With increased investments, they would be able to achieve sophistication of products, global scale of operations and enhanced share of global space economy," the statement said.
Xinhua News Agency correspondents reporting from New Delhi.
(XHTV)
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