The Cabinet approved Indian Space Policy 2023 on Thursday. This new policy looks to increase investments in the space sector from private companies. The Cabinet Committee on Security, chaired by PM Narendra Modi, defined the responsibilities that different organisations such as ISRO, NSIL, and IN-SPACe will have. According to a PTI report, union minister Jitendra Singh said, "In brief, the Indian Space Policy will offer clarity in the role of the components set up (in the past)."
The minister added that the policy will enable the private sector companies or organisations to participate in the activities of building rockets, satellites, launch vehicles, data collection and dissemination (basically all the activities related to space).
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According to Singh, the strategic activities related to space will be carried out by NewSpace India Limited (NSIL), which will work in a demand-driven mode. ISRO would not participate in any operational or production work for the space sector. Instead, ISRO would be focusing on developing new tech, new systems and research and development.
ISRO Chairman S Somnath told PTI that the new Indian Space Policy will focus on increasing the involvement of the private sector in space activities. IN-SPACe will act as an interface between the ISRO and the non-governmental entities. The policy enables the private players to use ISRO's facilities for a small charge and also encourages them to invest in creating new infrastructure for the sector.
The announcement of the approval of the Indian Space Policy 2023 would certainly pique the interest of private sector companies who have been waiting for it for a long time now. Investments from private companies in the space sector are going to increase in India, with players such as OneWeb and more planning to offer commercial services in the near future.