- The Cabinet approved an amendment in the Foreign Direct Investment (FDI) policy on the Space sector.
- The FDI policy reform aims to enhance Ease of Doing Business in the country and attract greater FDI inflows.
- The amendment divides the satellites sub-sector into different activities with defined limits for foreign investment.
- The Indian Space Policy 2023 aims to unlock India's potential in the space sector through enhanced private participation.
- Under the amended FDI policy, 100% FDI is allowed in the space sector with varying entry routes based on activities.
- The liberalized FDI policy is expected to generate employment, facilitate technology absorption, and make the sector self-reliant.
Current Affairs on 21 February, 2024