The Union Cabinet on Thursday approved Indian Space Policy 2023, which will aim to enhance the role of the Department of Space, boost activities of ISRO (Indian Space Research Organisation) missions and give a larger participation of research, academia, startups and industry. This policy will seek to institutionalise the participation of the private sector in the space sector.
The entry of the private sector would allow ISRO to focus more on research and development of advanced space technologies.
The policy has also detailed the roles and responsibilities of ISRO, Indian National Space Promotion and Authorization Center and space sector PSU NewSpace India Limited (NSIL).
"Prime Minister Narendra Modi took a decision to open the space sector for private participation. Today because of this, within 3 years, the number of startups has reached about 150 in ISRO...," said Union Minister Dr Jitendra Singh at a press briefing on Thursday.
"Today the Cabinet has approved Indian Space Policy 2023 which in brief would offer clarity to the role of each of these other components which have been set up to enhance the role of the space department, to give a boost to the activities of ISRO missions. To have larger participation between the research academia, startups and industry," the Minister added.
Private sectors to be part of end-to-end space activities
He also added that the said policy would allow private sectors to be a part of end-to-end space activities that include rockets and launch vehicles, building satellites and data collection and dissemination.
Lt. General AK Bhatt (retd.), Director General, the Indian Space Association said that this is a historic moment.
Speaking on the behalf of Indian Space Association, General Bhatt said, "This is a historic moment as the cabinet today 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." "We have been waiting for it for quite some time and today's announcement has come as a pleasant surprise. We keenly await and look forward to going through the policy details," added Bhatt.
With inputs from ANI
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