Connect with us

Sci/tech

Space industry welcomes new FDI norms, expects $25 bn fresh investment in 10 years

Published

on

Chennai, Feb 22 (IANS) India’s decision to revise its Foreign Direct Investment (FDI) norms for the space sector is expected to bring in fresh foreign investments up to $25 billion over the next decade and result in a wave of collaborations between Indian and foreign companies, said a senior official of the Space Industry Association-India (SIA-India).

Indian rocket and satellite makers and their lobby bodies have welcomed the amended FDI norms while expecting further liberalisation after some years.

They also said the revised norms announced by the Indian Government late on Wednesday are as per their expectations.

“India’s decision to open its doors to foreign investors is expected to attract substantial capital inflows, with estimates indicating potential FDI investments of up to $25 billion over the next decade. This infusion of capital will not only stimulate growth within the domestic space industry but also foster innovation and technological advancements, positioning India as a global hub for space exploration and satellite technology,” Dr. Subba Rao Pavuluri, President, SIA-India and Chairman and Managing Director, Ananth Technologies told IANS.

Pavuluri said that the revised FDI Policy approval for India’s space sector comes at a time when the global space industry is experiencing unprecedented growth, with projections estimating its value to reach $558 billion by 2026.

“Currently, India’s space industry contributes approximately $7 billion to the national Gross Domestic Product (GDP) and employs over 100,000 skilled professionals across various disciplines. With the implementation of liberalised FDI policies, experts predict a substantial uptick in these figures, with projections suggesting a potential GDP contribution of $50 billion by 2030 and the creation of over 500,000 new jobs in the space sector,” Pavuluri added.

ALSO READ:  Delhi HC stresses transparency on e-commerce platforms, orders disclosure of seller details

On Wednesday, the Indian Cabinet gave its nod for the much-awaited revised norms for FDI in space sector which has made the industry happy.

“The revised policy is aligned with our expectations. We believe that it will further extend to beyond 49 per cent in future, making it even more liberal,” Pawan Kumar Chandana, Co-Founder and CEO of rocket maker Skyroot Aerospace told IANS.

As per the new norms, the maximum FDI for makers of rockets and associated systems and subsystems under automatic route is 49 per cent and beyond that level it will be under the government route, that is, government’s permission will be needed.

“For the launch vehicles sub-sector, the 49 per cent automatic route raises the question of existing foreign investments exceeding this limit. Will the government exempt them, require restructuring, or mandate post-facto approvals? The upcoming FEMA notification should provide crucial clarity,” Abhishek Dubey Partner at Trilegal told IANS.

ALSO READ:  Tackling phobias to anxiety: Experts reveal 5 health benefits of VR headsets

Asked about the FDI in Skyroot Aerospace, Chandana said, “New FDI policy is 49 per cent for launch vehicles. We are already below 49 per cent and comply with the policy.”

Be that as it may, in respect of satellite manufacturing, operation, satellite data products, ground segment and user segment, the FDI under the automatic route is capped at 74 per cent and beyond that level it will be under the government route.

Terming the revised policy as great news for the space ecosystem Awais Ahmed, CEO, Syzygy Space Technologies Pvt Ltd, commonly known as Pixxel told IANS, “The new FDI norms will catalyse the entire space industry by enabling a larger and global pool of investment capital as well as strategic capital to come into India.”

“This is much needed to not only scale existing companies to becoming globally competitive but also help more startups get started in the first place. Space has always been a global endeavour while also being a matter of nationalistic pride. This easing of FDI norms will enable the Indian private space ecosystem to start being a serious player in that global endeavour,” he added.

“This historic decision paves the way for unprecedented growth and innovation, fostering a new era of space exploration and commercialisation in India. Dhruva Space is poised to leverage these opportunities to make significant contributions to the global space community and achieve remarkable milestones,” said Sanjay Nekkanti, CEO, Dhruva Space, a satellite company.

ALSO READ:  Economic priorities will have to align with our strategic interests: EAM Jaishankar

For the makers of components, systems/sub-systems for satellites, ground segment and user segment, 100 per cent FDI under automatic route has been allowed now.

The industry lobby body Indian Space Association (ISA) thanked the government for its forward-looking reforms in the space sector.

“After the pioneering initiative to administratively allocate satellite spectrum, the decision to allow a liberal FDI policy for space is yet another significant move forward,” Lt-Gen AK Bhatt (Retd.), Director General, ISA said.

The liberal FDI limits by automatic route for end-to-end satellite manufacturing and operation, components and systems/sub-systems for satellites, satellite data products and ground segment, user segment, launch vehicles, creation of spaceports will boost the confidence of all space industry members, including the biggest global players in the space and satellite domain, Bhatt added.

“Currently, the space sector in India accounts for little over about two per cent of the global space economy and this move will help the country to gain a much larger pie in the global market,” Bhatt added.

(Venkatachari Jagannathan can be reached at v.jagannathan@ians.in)

–IANS

vj/rad

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sci/tech

Indian startups raised nearly $176 million across 16 deals in July 1st week

Published

on

By

New Delhi, July 6 (IANS) The Indian startup ecosystem raised nearly $176 million in funding across 16 deals in the first week of this month.

In the biggest funding round, fashion e-commerce platform Purplle secured $120 million led by Abu Dhabi Investment Authority.

Agri-tech startup Arya.ag also announced to raise $29 million led by impact investment firm Blue Earth Capital.

Video telematics startup Cautio also announced a pre-seed raise of Rs 6.5 crore led by Antler, 8i Ventures and AU Small Finance Bank.

Homegrown startups have raised nearly $7 billion in funding during the first half (H1) of 2024, more than the $5.92 billion raised in H1 2023.

Also, the fintech ecosystem achieved a significant milestone in the first half of this year by ranking among the top three funded globally, alongside the US and the UK.

–IANS

na/uk

ALSO READ:  Centre takes up surge in online fake reviews with e-com giants, issues draft quality control order
Continue Reading

Sci/tech

Facing unexplainable mood disorders? You may be low on Vitamin B 12: Doctors

Published

on

By

New Delhi, July 6 (IANS) Vitamin B-12 plays a key role in producing brain chemicals that affect mood and other brain functions, said doctors on Saturday.

Vitamin B-12 (also known as cobalamin) plays a crucial role in the formation of red blood cells, cell metabolism, nerve function, and the production of DNA.

Some common symptoms of Vitamin B12 deficiency include strange sensations, numbness, or tingling in the hands, legs, or feet, difficulty walking (staggering, balance problems), anaemia, difficulty thinking and reasoning (cognitive difficulties), memory loss, weakness, or fatigue.

“Vitamin B-12 and other B vitamins play a crucial role in producing brain chemicals that affect mood and other brain functions. Low levels of B-12, as well as other B vitamins like vitamin B-6 and folate, may be linked to depression,” Dr Anshu Rohtagi, Senior Consultant, Department of Neurology, Sir Ganga Ram Hospital, told IANS.

“The deficiencies can result from poor diet or difficulties in absorbing the vitamins consumed. So, maintaining adequate B-12 level is essential for overall well-being, including mood regulation,” she added.

ALSO READ:  Now search conversations by date on WhatsApp

Vitamin B-12 is majorly found in poultry, meat, fish, and dairy products. It is available as an oral supplement, as injections, or nasal spray.

People who consume a vegetarian or vegan diet may be more prone to deficiency as plant foods do not contain vitamin B-12. The elderly and people with digestive tract conditions that affect the absorption of nutrients also are susceptible to vitamin B-12 deficiency.

“Vitamin B12 plays a crucial role in producing brain chemicals like serotonin, which helps regulate mood. When B12 levels dip, these chemicals can become imbalanced, potentially leading to symptoms like mood swings, irritability, and even depression,” Dr Guruprasad Hosurkar, Additional Director – Neurology, Fortis Hospital, Bannerghatta Road, Bengaluru, told IANS.

Importantly, the doctor explained that the “connection is not gender-specific. Both men and women can experience mood changes due to B12 deficiency”.

While research is ongoing, studies suggest a link between low B12 and depression, with some showing improvement in mood with B12 supplementation.

ALSO READ:  Smooth progress in testing latest HBM chips: Samsung

However, it’s important to note that mood swings can have many causes, and a doctor should be consulted to rule out other factors and determine if a B12 deficiency is present, Dr Guruprasad said.

“Vitamin B12 deficiency causes several neurological symptoms such as tingling, numbness & burning of feet, imbalance, memory impairment, mood disorders, psychosis, seizures, and Parkinsonism,” explained Dr Sudhir Kumar, from Indraprastha Apollo Hospitals, Hyderabad in a post on social media platform X.

“In a patient presenting with neurological or psychiatric symptoms, suspect vitamin B12 deficiency as a cause (especially if there is no obvious cause identified). Early diagnosis and prompt initiation of treatment rapidly improves patient’s symptoms,” he added.

The doctors also stressed the need to maintain a healthy lifestyle and advised key behaviours such as managing high blood pressure, and blood sugar, quitting smoking, and alcohol, staying physically active, getting adequate sleep, and managing stress.

–IANS

rvt/uk

Continue Reading

Sci/tech

Former NASA astronaut Steve Lee Smith to headline Kerala AI conclave

Published

on

By

Kochi, July 6 (IANS) Former NASA astronaut and technology executive Steve Lee Smith will be the highlight of the two-day first International GenAI Conclave to be hosted by the Kerala Government in Kochi on July 11 and 12.

This event is in association with IBM. Chief Minister Pinarayi Vijayan will inaugurate it.

A veteran astronaut, Smith flew into space four times at 28,000 KMH on the space shuttle during his stint in NASA, covering 16 million miles.

He also performed seven spacewalks, including repairs of the Hubble Space Telescope.

Smith will speak on ‘Lessons Learned from A Skywalker’ at the conclave.

The event will be attended by leading lights in this area to explore the transformative potential of AI and its impact on society and the economy.

The GenAI conclave aims to transform Kerala as an AI destination and showcase the state’s perspectives on industry 4.0, besides giving a thrust to the growth of the economy.

ALSO READ:  Delhi HC stresses transparency on e-commerce platforms, orders disclosure of seller details

Besides developers, universities, students, media and analysts, the conclave will feature demos, activations, interactions with industry experts, panel discussions and lectures.

Participants will also get a first-hand experience in the latest advancements in the AI sector.

–IANS

sg/kvd

Continue Reading

Sci/tech

Mice with functional humanised immune system shows promise

Published

on

By

New Delhi, July 6 (IANS) A first-of-its-kind mice model with a fully functional human immune system and a human-like gut microbiome has shown promise of mounting specific antibody responses.

To date, researchers have not developed a fully functional human immune system, but only those with a brief lifespan that do not mount efficient immune responses, making them unsuitable for the development of in vivo human immunotherapies, human disease modelling, or human vaccine development.

Developed by scientists at The University of Texas in the US, the new model will overcome limitations of currently available in vivo human models and is a breakthrough for biomedical research and promises new insight into immunotherapy development and disease modelling.

Detailed in the journal Nature Immunology, the new humanised mice, called TruHuX (for truly human, or THX), possess a fully developed and fully functional human immune system, including lymph nodes, germinal centres, thymus human epithelial cells, human T and B lymphocytes, memory B lymphocytes, and plasma cells making highly specific antibody and autoantibodies identical to those of humans.

ALSO READ:  Smooth progress in testing latest HBM chips: Samsung

THX mice mount mature neutralising antibody responses to Salmonella Typhimurium and SARS-CoV-2 virus Spike S1 RBD after vaccination with Salmonella flagellin and the Pfizer Covid-19 mRNA vaccine, respectively.

It is also amenable to developing full-fledged systemic lupus autoimmunity after an injection of pristane — an oil that triggers an inflammatory response.

“THX mice provide a platform for human immune system studies, development of human vaccines, and testing of therapeutics,” said Paolo Casali, Professor at the University of Texas School of Medicine in San Antonio, US.

They do this “by critically leveraging oestrogen activity to support human stem cell and human immune cell differentiation and antibody responses”, he added.

–IANS

rvt/svn

Continue Reading

Sci/tech

Atal Innovation Mission empowering innovators in Tier 2 & 3 cities: Director

Published

on

By

New Delhi, July 6 (IANS) Atal Innovation Mission’s (AIM) Community Innovator Fellows (CIFs) programme is empowering innovators in Tier 2 and Tier 3 cities, said Dr. Chintan Vaishnav, Mission Director at AIM.

He said this while delivering a keynote address at NITI Aayog marking the celebration of the graduation of its second batch of CIFs on Friday.

Dr. Chintan underscored the programme’s pivotal role in advancing solutions across healthcare, education, agriculture, and financial services, resonating deeply with the ethos of sustainable development.

“We have now established robust institutions that seamlessly integrate business incubation with academia. This well-designed project aspires to be a model of excellence,” Dr. Vaishnav said.

He noted that the Community Innovator initiative “captures the aspirations of youth eager to go beyond traditional boundaries in innovation and startups. It embodies both rigour and relevance, truly inspiring in its mission and impact.”

AIM, through its Atal Community Innovation Centres (ACIC) programme has envisaged serving the unserved/underserved areas of the country, providing support to every grassroots innovator, and working towards accelerating the pathway to reach SDGs 2030.

ALSO READ:  EV sales drop 25 pc in S. Korea, hybrid car sales jump

“These innovators serve as role models not only for their communities but also for society at large. I’m delighted to witness each business prospering — it’s like shaping raw gold into a precious jewel,” said Anurag Pratap Singh, Vice President & CSR Leader at Capgemini India.

Dr. Suresh Reddy, Lead CSR & Director at SRF Foundation, reflected on the impact of social entrepreneurship in addressing community challenges.

–IANS

rvt/rad

Continue Reading

Trending