India will soon come out with a new foreign direct investment (FDI) policy for the space sector, Indian Space research Organization (ISRO) Chairman K. Sivan said on Monday.
In his address at the International Space Conference and Exhibition, organised by Confederation of Indian Industry (CII), on the theme ‘Building NewSpace in India’, Sivan, who is also Secretary of the Department of Space, said with India opening up its space sector for private players, there has been a lot of interest by the foreign companies to invest in India.
There is enormous scope for foreign companies to tie up with Indian companies in the space sector, he added.
Sivan said the FDI policy is getting to revised which would open up huge opportunities for foreign companies to invest in India.
Indian Space Research Organisation (ISRO)
Sivan also appreciated the Indo-UAE engagement in space and collaborations with ISRO in various space applications. According to Sivan, the Indian industry would play a crucial role in the space sector as more and more startups and MSMEs participate in the future. He also revealed that ISRO has teamed up with NITI and DPIIT for bringing more start-ups.
Dr K Sivan highlighted that it’s a collective responsibility of government and non-government entities to make outer space safe, “ISRO will be supportive of all international collaborations which benefit humanity.”
Private players have been engaged in various supportive roles with the Indian Space Research Organisation (ISRO) from very early days, explained Narayan Prasad, Chief Operating Officer of Satsearch. A search engine for the space industry, and formerly the chief executive and co-founder of Dhruva Space. A company engaged in the development of small satellites.
Companies like Godrej and Andhra Sugars partnered ISRO in the early days, and are to described as the first generation of private players.
