India prepares new draft for dedicated space law to boost foreign investment

India has prepared a new draft for its first dedicated space law, aimed at easing foreign investments in the space sector. This draft comes six years after the initial version and follows a four-page policy released in 2023. The draft will be open for consultations with industry stakeholders by March 2025. It is designed to clarify the roles of various bodies in the space sector and streamline investment processes, which have faced delays under the current system. Additionally, a ₹1,000 crore venture capital fund for space startups is in development, with more details expected by early 2026. The Indian space industry aims to reach a valuation of $44 billion by 2033, supported by increased launch activities and private sector involvement.