Looking at further easing FDI norms in space sector: DPIIT secretary Rajesh Kumar Singh – ET Telecom | Satcom
Looking at further easing FDI norms in space sector: DPIIT secretary Rajesh Kumar Singh ETTelecom
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Looking at further easing FDI norms in space sector: DPIIT secretary Rajesh Kumar Singh
Presently FDI in space sector is allowed up to 100 per cent in the area of satellites establishment and operations through government route only.
Introduction
The government is looking at further easing foreign direct investment (FDI) norms in the space sector to attract overseas players, according to Rajesh Kumar Singh, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT). He highlighted the potential for collaboration in sectors such as artificial intelligence, robotics, cyber security, automation, and space. Singh emphasized the need to liberalize FDI norms to bring in private sector and foreign investment in the space sector.
Potential Investment Opportunities
Singh mentioned that there is significant scope for Saudi Arabian companies to invest in India across various sectors including aviation, pharma, bulk drugs, renewable energy, food processing, and agritech. He also highlighted the potential for collaboration between the Saudi Arabian military industry and the Make in India campaign. The secretary sought investments in areas such as bulk drug parks and the food processing sector. He emphasized the potential for collaboration between India and Saudi Arabia in agro-tech startups.
Bilateral Trade and Opportunities
Singh mentioned that the bilateral trade between India and Saudi Arabia reached USD 52.8 billion in 2022-23. He highlighted the potential to move beyond oil trade and engage in new areas such as food processing, tourism, renewable energy, health, and entertainment. Singh also emphasized India’s strength in outsourced services and its recognition as the pharmaceutical capital of the world. Joint Secretary in the DPIIT, Sanjiv, highlighted the opportunities for trade and investments between India and Saudi Arabia.
Conclusion
The government’s focus on further easing FDI norms in the space sector aims to attract overseas players and promote collaboration in areas such as artificial intelligence, robotics, cyber security, automation, and space. The potential for investment and collaboration between India and Saudi Arabia across various sectors presents significant opportunities for both countries. The bilateral trade between the two nations has been growing, and there is potential to expand engagement beyond traditional sectors.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.5: Enhance scientific research, upgrade the technological capabilities of industrial sectors in all countries, in particular developing countries, including, by 2030, encouraging innovation and substantially increasing the number of research and development workers per 1 million people and public and private research and development spending. | No specific indicators mentioned in the article. |
| SDG 17: Partnerships for the Goals | Target 17.17: Encourage and promote effective public, public-private, and civil society partnerships, building on the experience and resourcing strategies of partnerships. | No specific indicators mentioned in the article. |
Explanation:
1. SDG 9: Industry, Innovation, and Infrastructure is addressed in the article as it discusses the government’s plan to further ease foreign direct investment (FDI) norms in the space sector to attract overseas players. This aligns with the goal of enhancing scientific research and upgrading technological capabilities.
2. Target 9.5 under SDG 9 can be identified based on the article’s content. The target aims to encourage innovation and increase research and development workers and spending. While the article does not provide specific details about these indicators, it mentions the government’s intention to liberalize FDI norms to bring in private sector and foreign investment in the space sector.
3. SDG 17: Partnerships for the Goals is also relevant to the article as it highlights the need for effective partnerships between the public, private, and civil society sectors. The article mentions the scope for collaboration between Saudi Arabian companies and India in various sectors, including space, which aligns with the goal of promoting partnerships.
4. No specific indicators are mentioned or implied in the article that can be used to measure progress towards the identified targets.
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Source: telecom.economictimes.indiatimes.com
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