Private sector can now build rockets, satellites. All about Indian Space Policy 2023
2 min read . Updated: 07 Apr 2023, 10:52 PM IST
Premium- According to Singh private sector companies will now be able to build rockets, satellites and launch vehicles, data collection and dissemination. Private sector will gain access to end-to-end space activities.
The Indian Space Policy was approved on this week by the Indian Government. The policy seeks to institutionalise and mostly facilitate the acess of private sector participation int he space sector for India.
The policy will see Indian Space Research Organisation (ISRO) focusing on research and development of advanced space technologies.
The Indian Space Policy 2023 was approved by a Cabinet Committee helmed by Prime Minister Narendra Modi. The policy delineates responsibility to ISRO, New Space India Limited (NSIL, a space sector PSU), and Indian National Space Promotion and Authorization Center (IN-SPACe).
Will this change space operation for India?
“In brief, the Indian Space Policy will offer clarity in the role of the components set up (in the recent past)," Union minister Jitendra Singh told reporters.
According to Singh private sector companies will now be able to build rockets, satellites and launch vehicles, data collection and dissemination. Private sector will gain access to end-to-end space activities.
NSIL: Singh mentioned that strategic activities related to the space sector will be carried out by NSIL, a public sector undertaking under the Department of Space, which will work in demand-driven mode.
ISRO: ISRO Chairman S Somanath told PTI that the focus of the Space Policy would be to increase the participation of the private players in the space sector.
INSPACe: this recently created agency will be the interface between Indian Space Research Organisation and non-governmental entities, Somanath said.
Indian Space Policy 2023: Details
He said the policy also spells out the framework for the private sector to use ISRO facilities for a small charge and also encourages them to invest in creating new infrastructure for the sector.
Somanath said ISRO will not do any operational and production work for the space sector and focus its energies on developing new technologies, new systems and research and development.
The operational part of ISRO’s missions will be moved to the NewSpace India Limited, a public sector undertaking under the Department of Space.
Why the inclusion of private sector for India's space economy?
Somanath said India’s share in the global space economy was less than two per cent at present and the space policy will help it increase substantially to 10 per cent in the future.
“This is a historic moment as the cabinet has approved the Indian Space Policy 2023. It will pave the way forward with much-required clarity in space reforms and augment private industry participation to drive the space economy opportunity for the country," Lt Gen A K Bhatt (retd), Director General Indian Space Association, told PTI.
The future of space economy in India
The global space industry is worth over $500 billion, with the United States and China spending the most, according to a report by VICE. India currently accounts for only 2% of it.
According to the Economic Survey of India, there have been over 100 active space companies since 2012. Many of them are currently vying for approval from the newly formed InSpace, or the Indian National Space Promotion and Authorisation Centre, an institution that serves as a liaison between ISRO and private sector enterprises.
Allowing private companies to perform space missions has benefited nations such as the United States by promoting private sector investment. For example, Elon Musk’s SpaceX’s reusable Falcon 9 rockets have become a popular choice for space missions around the world.