Private Sector Participation in space sector gets cabinet nod
This will not only result in the accelerated growth of the sector but will enable the Indian Industry to be an important player in the global space economy
Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday (June 24) approved far reaching reforms in the space sector aimed at boosting private sector participation in the entire range of space activities.
The decision taken is in line with the long-term vision of the Prime Minister of transforming India and making the country self-reliant and technologically advanced.
Taking to Twitter, PM Modi said, “The Union Cabinet’s approval to reforms in the space sector is yet another step towards making our nation self-reliant and technologically advanced. The reforms will boost private sector participation as well.”
India is among a handful of countries with advanced capabilities in the space sector. With these reforms, the sector will receive new energy and dynamism, to help the country leapfrog to the next stages of space activities.
This will not only result in the accelerated growth of the sector but will enable the Indian Industry to be an important player in the global space economy. With this, there is an opportunity for large-scale employment in the technology sector and India becoming a Global technology powerhouse.
Space sector can play a major catalytic role in the technological advancement and expansion of our Industrial base. The proposed reforms will enhance the socio-economic use of space assets and activities, including through improved access to space assets, data and facilities.
The newly created Indian National Space Promotion and Authorisation Centre (IN-SPACe) will provide a level playing field for private companies to use Indian space infrastructure. It will also hand-hold, promote and guide the private industries in space activities through encouraging policies and a friendly regulatory environment.
The Public Sector Enterprise ‘New Space India Limited (NSIL)’ will endeavour to re-orient space activities from a ‘supply-driven’ model to a ‘demand-driven’ model, thereby ensuring optimum utilization of our space assets.
These reforms will allow ISRO to focus more on research and development activities, new technologies, exploration missions and human spaceflight programme. Some of the planetary exploration missions will also be opened up to the private sector through an ‘announcement of opportunity’ mechanism.