(20 second reading) The Ministry of Finance has notified new FDI regulations for satellites with the aim to increase investment in satellite-related activities by foreign entities.
Under these new guidelines, foreign investors can now invest up to 100 per cent of FDI into the sector, with 74 per cent being under the automatic route. This includes investments in satellite manufacturing and operations, the ground segment, user segment, as well as satellite data products.
Notably, this notification arrives just days ahead of the anticipated visit of Elon Musk.
Concurrently, approvals for Musk’s satellite internet project, Starlink, are nearing finalization.