Union Cabinet approves amendment in FDI policy on space sector

Prime Minister Narendra Modi has said that charting new orbits for growth and innovation, the government has updated the FDI policy in the space sector, paving the way for a galaxy of opportunities.

The Union Cabinet chaired by Mr. Modi yesterday approved the amendment in the Foreign Direct Investment policy on the space sector.  Now, the satellite sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector.

In a social media post, Mr. Modi said, the Cabinet decision relating to the National Livestock Mission will bring exciting opportunities for entrepreneurs alongside major boosts in fodder production and breed conservation.