Firstpost | How private sector can propel a new wave of space revolution in India

The Government of India amended the FDI policy for the space sector on 5 March 2024. This has liberalised thresholds for various space-related activities. This change comes on the heels of a slew of space reforms by the government that began in 2020. The reforms created a fertile ground for the cropping up of many space start-ups in the country but did not address their funding needs. While the FDI reforms have the potential to address this deficiency, they are insufficient in a vacuum. India’s share of the global space economy is $8 billion, and the government aims for a five-fold increase by 2040. To achieve this, the government will have to place larger bets. Read the full article here.

US investors concerned over India’s economic slowdown, social unrest and Modi’s disinterest

Even if we ignore the fact that the Indian economy is in a severe slowdown, we should not forget even for a moment that India’s per capita GDP is around $2000, it needs to create around 2 crore jobs every year, and needs every little point of economic growth that it can get.So, in terms of the level of income, India is in the same league as Congo, East Timor, Nicaragua, and Nigeria. Two of India’s subcontinental neighbours, the Maldives and Sri Lanka, are far ahead of us. At around $10,000, the average income in China is 400 per cent higher than India’s. Given our tax/GDP ratios, the Indian government’s combined expenditure on everything — including health, education, defence, rural development, and social welfare — is a paltry $300 per year.Read more