Brief by Shorts91 Newsdesk / 04:26am on 18 Apr 2024,Thursday India
India unveils updated Foreign Direct Investment (FDI) regulations for satellite activities, just before Elon Musk's upcoming trip. The amendments allow up to 100% FDI for satellite component manufacturing and related segments. Musk, set to meet PM Modi, is expected to unveil Starlink and investments worth $2-3 billion. Starlink seeks permission to operate in India with its 4,000-strong satellite network. The changes enable easier foreign investment in satellite manufacturing, operations, and data products, aiming to bolster the country's space industry. The move aligns with India's efforts to attract tech giants and boost its space capabilities.
