NEW DELHI, Feb 22 Reuters India on Wednesday said it will allow 100 foreign direct investment FDI in the manufacture of satellite systems without any prior approval and eased the rules for launch vehicles, aiming for a greater share of the global space market.

Before the policy change, such investments were allowed but needed government approvals that would sometimes mean months of waiting.

Below are some of the changes India made.

Three categories

India divided its space sector into three broad categories for the purpose of investments companies that make rockets that launch satellites, those that make satellites and companies that make the parts for manufacturing satellites.

Manufacturing of components for satellites

It allowed 100 foreign investments through the socalled automatic route, which means no government approval is required for any investments in the category. This will lead to greater access to technology for critical communication systems such as transponders, antennas and power systems.

Satellite manufacturing and operations

India allowed 74 overseas investment without approval from the government in satellite manufacturing and its operations. This would open up easy entry for key players in the sector such as Elon Musk39;s SpaceX, Maxar, Viasat, Intelsat and Airbus. Experts said for commercialisation, satellite manufacturing is the most lucrative area, with more viable partnerships. Companies will need government approval to increase its equity…