GOG organizes 8 sectorial seminars to energise VGGIS-2011

Published By : Admin | December 28, 2010 | 12:42 IST

Minister of State for Industries Shri Saurabh Patel today informed that state government had organized around eight sectorial seminars during the month of December as a run-up to forthcoming Vibrant Gujarat Global Investors’ Summit-2011 and to reap highest benefits from it.

Seminar witnessed deliberation on the subjects like growth of technical textiles and opportunities in international perspectives, pharmaceutical industries, tourism and civil aviation, agri business – opportunities and challenges, responsive healthcare, integrated mining city, global chemical summit, MSME convention, information technology and bioinvest.

‘Seminars got overwhelming response from developers and experts of different sectors from across the globe. All the eight seminars became instrumental in deeply assessing various aspects of the sectors. More than 100 professional experts and 4000-odd individuals representing different sectors took part in the seminars’, he said.

Giving outlines of the seminars Minister of State said that the seminars brought government agencies, private companies, professional consultants and experts on one common platform to deliberate on resources, infrastructure and investment opportunities available in Gujarat.

Talking further about Seminars Shri Patel said each seminar was peculiar in its own way but they all have a common objective – to find out the challenges within the sectors and opportunities hidden in it. With the means of penal talk, CEO roundtable and conclaves such objectives were met.

Stating that state government is working with the objective of making the growth sustainable and to extend the benefits of development to future generation, Minister of State added that the government welcomes the outcome of the seminars and will use this knowledge in future planning.

‘Gujarat Chief Minister always emphasizes an economical growth that is extended to all the strata of society especially to poor’, he said. Non-conventional energy sources, use of carbon free technology, healthcare, training and employment to youth, work-life balance, enough public amenities - with all these Gujarat is marching ahead in line with the vision of the Chief Minister, Shri Patel said.

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Cabinet approves amendment in the Foreign Direct Investment (FDI) policy on Space Sector
February 21, 2024
The FDI policy amendment has been carried out to realize the vision of an Atmanirbhar Bharat as laid down by PM Shri Narendra Modi
Now, the Space sector has been liberalized for foreign direct investment in prescribed sub-sectors/activities
The FDI policy reform will enhance Ease of Doing Business in the country, leading to greater FDI inflows and thereby contributing to growth of investment, income and employment

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the amendment in Foreign Direct Investment (FDI) policy on space sector. Now, the satellites sub-sector has been divided into three different activities with defined limits for foreign investment in each such sector.

The Indian Space Policy 2023 was notified as an overarching, composite and dynamic framework to implement the vision for unlocking India’s potential in Space sector through enhanced private participation. The said policy aims to augment space capabilities; develop a flourishing commercial presence in space; use space as a driver of technology development and derived benefits in allied areas; pursue international relations and create an ecosystem for effective implementation of space applications among all stakeholders.

As per the existing FDI policy, FDI is permitted in establishment and operation of Satellites through the Government approval route only. In line with the vision and strategy under the Indian Space Policy 2023, the Union Cabinet has eased the FDI policy on Space sector by prescribing liberalized FDI thresholds for various sub-sectors/activities.

Department of Space consulted with internal stakeholders like IN-SPACe, ISRO and NSIL as well as several industrial stakeholders. NGEs have developed capabilities and expertise in the areas of satellites and launch vehicles. With increased investment, they would be able to achieve sophistication of products, global scale of operations and enhanced share of global space economy.

The proposed reforms seek to liberalize the FDI policy provisions in space sector by prescribing liberalized entry route and providing clarity for FDI in Satellites, Launch Vehicles and associated systems or subsystems, Creation of Spaceports for launching and receiving Spacecraft and manufacturing of space related components and systems.

Benefits:

Under the amended FDI policy, 100% FDI is allowed in space sector. The liberalized entry routes under the amended policy are aimed to attract potential investors to invest in Indian companies in space.

The entry route for the various activities under the amended policy are as follows:

  1. Upto 74% under Automatic route: Satellites-Manufacturing & Operation, Satellite Data Products and Ground Segment & User Segment. Beyond 74% these activities are under government route.
  2. Upto 49% under Automatic route: Launch Vehicles and associated systems or subsystems, Creation of Spaceports for launching and receiving Spacecraft. Beyond 49% these activities are under government route.
  3. Upto 100% under Automatic route: Manufacturing of components and systems/ sub-systems for satellites, ground segment and user segment.

This increased private sector participation would help to generate employment, enable modern technology absorption and make the sector self-reliant. It is expected to integrate Indian companies into global value chains. With this, companies will be able to set up their manufacturing facilities within the country duly encouraging 'Make In India (MII)' and 'Atmanirbhar Bharat' initiatives of the Government.