Easing FDI in space sector will increase jobs, open new business opportunities for private sector

The demand for technology-related jobs will rise if regulations governing foreign direct investment (FDI) in the space sector ease, as this will draw foreign investors and startups. This has been stated by experts. The government has given the go-ahead for all foreign investments to produce satellite-related equipment.

Sriram Ananthasayanam, partner of Deloitte India, says the recent increase in the FDI limit is an important step towards the transformation of India's space program. This has opened up new business opportunities for the private sector. In the coming time, the number of private companies in this sector may reach double digits.

Revathi Muraleedharan, a partner of Induslaw, says that the increased competition from the entry of new companies and strategic investors will force domestic companies to develop cutting-edge technologies to maintain their position in the Indian space market.