Feb 24, Kathmandu- The Government of India has liberalized Foreign Direct Investment (FDI) in its space sector to create jobs, enable absorption of modern technology and make the sector self-sufficient.

According to the Federal Council of Ministers, Prime Minister Narendra Modi has approved the revision of the FDI policy in the space sector in the meeting of the Council of Ministers.

The satellite sub-region has been divided into three different activities, with defined limits for FDI in each region. Non-governmental organizations have developed capacity and expertise in the field of satellites and launch vehicles.

With increased investment, they are said to be able to achieve product sophistication, global scale of operations and a growing share of the global space economy.