According to India’s Minister of State for Science and Technology Jitendra Singh, the country’s most recent space policy opens up the industry to more engagement by non-governmental organizations along the whole value chain of the space economy.

Governmental entities like the Indian Space Research Organization (ISRO) have always had influence over India’s space industry. It has been in charge of leading India’s efforts in satellite development and space exploration.

The government has set up the Indian National Space Promotion and Authorisation Center (IN-SPACe) as a single-window agency for promotion and authorisation of space activities, informed the minister in a written reply in the Rajya Sabha.

The budget allocations for IN-SPACe are as follows – Rs10 crore for 2021-22, Rs 33 crore for 2022-23, and Rs 95 crore for 2023-24.

Singh also informed that the Laser Interferometer Gravitational Wave Observatory – India (LIGO-India) project has been approved by the government at an estimated cost of Rs. 2,600 crore, with Department of Atomic Energy as the Lead Agency.

He added that, after the completion of the project, the LIGO-India facility will be operated as a national facility for detecting gravitational waves and research in related areas of astronomy.

India’s might in the space domain is well known around the world. Notably, the country has been successful in carrying out various ground-breaking space missions and establishing its position as one of the prominent players in the field of space exploration.

In recent years, ISRO has been successful in establishing itself as a reliable and cost-effective launch partner for foreign nations. In an exclusive interview, Union Minister Jitendra Singh said that India has launched 389 foreign satellites in the last nine years.

Further, by launching these foreign satellites, India has earned around USD 157 million and 223 million euros so far in the last nine years.

The Government of India unleashed reforms in space domain in 2020, opening the doors for enhanced participation of NGEs in carrying out end-to-end activities in the space domain and with an aim to provide them a level playing field.

Subsequent to these reforms, the Government seeks to provide regulatory certainty to space activities by various stakeholders, in order to create a thriving space ecosystem. The Indian Space Policy – 2023 has thus been formulated as an overarching, composite and dynamic framework to implement the reform vision approved by Cabinet.

The goal of the policy is to increase space capabilities, enable, promote, and establish a thriving commercial presence in space; to pursue international relations; to use space as a catalyst for technological advancement and the benefits that flow therefrom; and to build an ecosystem for the successful implementation of space applications among all stakeholders for the nation’s socioeconomic development and security, the preservation of the environment and human life, and the pursuit of peaceful exploration.

In order to achieve the objective outlined for the space industry, the government is attempting to take a comprehensive strategy by supporting and promoting greater private sector involvement in every step of the space economy’s value chain, including the development of space and ground-based assets.

(With input source)