(MENAFN- KNN India) New Delhi, Apr 18 (KNN) In a significant development for India's private space industry, the government has facilitated a meeting between Elon Musk, the visionary behind Tesla and SpaceX, and the founders of several prominent Indian spacetech startups.
This strategic move aims to highlight the nation's burgeoning space ecosystem and foster potential collaborations with Musk's pioneering ventures.
The meeting, scheduled for Monday in New Delhi, will bring together the founders of startups such as Agnikul Cosmos, Bellatrix Aerospace, Skyroot Aerospace, Dhruva Space, Pixxel, SatSure, and Digantara, offering them a unique opportunity to showcase their innovative technologies and capabilities to the SpaceX and Tesla chief.
This engagement comes on the heels of a recent visit by a delegation of Indian startup executives and officials from the Indian Space Research Organisation (ISRO) to SpaceX's facilities in Hawthorne, California.
The visit, facilitated by the U.S. Department of State's International Visitor Leadership Programme, aimed to foster cross-border collaboration and knowledge sharing within the space sector.
Several Indian startups, including Pixxel and Digantara, have already leveraged SpaceX's rockets for satellite launches, underscoring the existing synergies between the Indian private space sector and Musk's endeavors.
According to industry insiders, the primary agenda during Musk's visit will revolve around Starlink, SpaceX's satellite internet constellation, and Tesla's plans to establish a presence in the Indian market.
Starlink, a subsidiary of SpaceX, currently provides internet coverage to over 70 countries and aims to offer global mobile broadband services. This aligns with India's ambitions to foster a robust private space ecosystem, facilitated by recent policy reforms that have eased foreign direct investment (FDI) norms in the sector.
The Cabinet's decision to allow up to 74 per cent FDI under the automatic route for satellite manufacturing, 49 per cent for launch vehicles, and up to 100 per cent for manufacturing components and systems is expected to provide Indian space startups with access to global capital, enabling them to expand their manufacturing and production capacities while exploring innovative business models.
(KNN Bureau)
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