The Indian Space Policy 2023 was approved by the Cabinet Committee on Security chaired by Prime Minister Narendra Modi on Thursday.
The policy seeks to institutionalize private sector participation in the space sector, which would enable the Indian Space Research Organisation (ISRO) to focus on research and development of advanced space technologies.
The entry of the private sector into the space sector is expected to have significant benefits for the Indian space industry.
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.
The move is expected to provide clarity on the roles of various components set up in the recent past.
The Indian Space Policy 2023 has delineated the roles and responsibilities of ISRO, space sector PSU NewSpace India Limited (NSIL), and the Indian National Space Promotion and Authorization Center (IN-SPACe).
The policy also spells out the framework for the private sector to use ISRO facilities for a small charge and encourages them to invest in creating new infrastructure for the sector.
The policy focuses on increasing the participation of the private sector in the space sector.
The INSPACe, created recently, will be the interface between the ISRO and non-governmental entities. The NSIL, a public sector undertaking under the Department of Space, will work in a demand-driven mode to carry out strategic activities related to the space sector.
ISRO Chairman S Somanath said that the policy would allow the private sector to take part in end-to-end space activities and focus on developing new technologies, new systems, and research and development.
The ISRO will not do any operational and production work for the space sector.
The Indian Space Association (ISA) welcomed the policy and called it a historic moment.
Lt. Gen. AK Bhatt (retd.), The Director General of ISA said the Indian Space Policy 2023 would 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.
The entry of the private sector into the space sector is expected to provide a much-needed boost to the Indian space industry. It will enable the ISRO to focus on research and development of advanced space technologies and provide opportunities for the private sector to contribute to the growth of the Indian space economy.
The Indian Space Policy 2023 is expected to provide the necessary framework for the private sector to participate in the space sector, which could have significant benefits for the Indian space industry in the years to come.