India Approves 100% Foreign Investment In Space Sector

India will allow 100% foreign direct investment in the manufacture of satellite systems without official approval and eased the rules for launch vehicles, a government statement said, aiming for a greater share of the global space market.

India's space ambitions got a boost when it became the first country to land a spacecraft near the unexplored south pole of the moon in August - and the fourth to achieve a soft landing - just days after a similar Russian mission failed.

The government said in a statement late on Wednesday that foreign companies could invest in the manufacture of components and systems or sub-systems for satellites up to 100% without approval.