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 incre