Department of SpaceBharti Airtel and Norway company wishing to set up a ground station for preparing a new policy for investment in the space sector
India is preparing a new space policy. In this space, opportunities are being created for Indian companies as well as foreign companies in the space sector. The new policy will allow foreign companies to develop facilities in the country to attract foreign direct investment (FDI). Department of Space (DoS) Secretary K.K. Siwan has said this.
Bold initiative going into policy
A number of bold initiatives are being taken in the policy being prepared by the Department of Space. According to the information, in the new policy, foreign companies will be allowed to invest in tie-ups with Indian companies and without tie-ups. In addition, international units will be able to participate in space-related activities.
Foreign companies will be able to install the launch vehicle
According to a media report, K.K. Siwan says that the work of preparing a new policy is going on in full swing. Under this, foreign companies will be allowed to set up satellite and launch vehicle facilities in the country. In addition, these units can set up a ground station.
National security will be given priority
K. Siwan says that the space sector is quite sensitive. In such a situation, the decision to allow investment in this sector will be based on the company. National security and interest will be given priority in this. Foreign companies have to follow all the guidelines for investment in this sector.
Indian companies can partner
In the new policy, provision is also being made for Indian companies to partner with foreign companies. Under this partnership, the Indian company will invest 60 percent, while the foreign company will invest 40 percent through FDI.
The new policy will be released soon
Siwan said that there will be more clarity in this regard after the Indian National Space Promotion and Authorization Center (IN-SPACe) is fully in operation. He said that other policies are in the pipeline. These may be released soon. Siwan said that many companies have expressed willingness to invest in this sector.
Many companies applied
Siwan said that IN-SPACe has received several applications for investment. This includes OneWeb in London and KSAT in Norway. Bharti Airtel also has a stake in OneWeb. Bharti wants to set up a ground station with the help of Airtel department. Apart from this, KSAT is also keen to set up ground stations in India.