The Indian Government has approved the Indian Space Policy 2023, which aims to boost the country’s space department’s role and give a larger participation to research, academia, start-ups, and industry.
The policy lays down the roles and responsibilities of organizations such as the Indian Space Research Organisation (ISRO), space sector PSU NewSpace India Limited (NSIL) and the Indian National Space Promotion and Authorization Center (IN-SPACe), and private sector entities.
Further, this policy also seeks to institutionalize the private sector participation in the space sector.
In brief, the Indian Space Policy 2023 is expected to offer clarity on the roles of the components set up in recent past and enable the industry to have a larger participation.
It will allow the private sector to take part in end-to-end space activities that include building satellites, rockets and launch vehicles, data collection and dissemination
Worth mentioning, the opening of the space sector for private participation, which was initiated by Prime Minister Narendra Modi, has led to the growth of start-ups in ISRO, with the number reaching 150 within three years.
And, now this policy, will further pave the way for the much-required clarity in space reforms and augment private industry participation to drive the space economy opportunity for the country.
