The central government on Thursday approved the Indian Space Policy (ISP) 2023. This new space policy seeks to regulate and strengthen private sector participation in the space sector. India’s space policy has been approved by the Cabinet Committee on Security, chaired by Prime Minister Narendra Modi.
The ISP trying to increase investment by private companies in the space sector. Union Minister Jitendra Singh said, “In short, India’s space policy will offer clarity on the role of components set (in the past).
Privatization policies will enable the space sector to be more innovative and sustainable. It is essential if India is to be competitive in the global space ecosystems. India’s space market is worth $7 billion, which is only about 2% of the global space market.
The space sector remained within the confines of the Indian Space Research Organization (ISRO) with full budgetary support from the government. The entry of the private sector into the space sector would allow ISRO to streamline its focus on research and development of advanced space technologies.
Lt Gen AK Bhatt (retd), Director General, Indian Space Association said, “This is a historic moment as the Cabinet today approved India’s Space Policy 2023. It will pave the way forward with much-needed clarity on space reforms and expand the participation of private industry to make the country opportunities for the space economy.”
Promising space policy 2023
Basically, through ISP, the government is trying to drive the overall growth of India’s commercial space activities by creating a regulatory environment in line with international law and addressing previous obstacles to the goal of encouraging the private sector.
By institutionalizing the ISP sector, it breaks the monopolistic space sector run by ISRO. The ISP also addresses the issue of liability in the event of any fallout or destruction of space facilities. Since India is a party to the Outer Space Treaty, the Liability Convention and the Registration Convention, the responsibility for any destruction or damage lies with the government.
As part of the policy framework, the government has focused on addressing the critical issue of control and access to dual-use space technology, or IP, that protects or threatens national security. The industry demanded that intellectual property be examined on a case-by-case basis.
The policy will bring more clarity to the regulatory framework that covers a variety of activities ranging from remote sensing to deep space exploration.
This policy also directs and provides greater opportunity, more time and resources to focus on scientific and technological research in deep space.
“We have been waiting for this for quite some time and today’s announcement was a pleasant surprise. We are eagerly awaiting and looking forward to go through the details of the policy. We would like to thank the Prime Minister for his visionary leadership with a special focus on the long-planned reforms in India’s space sector.
Written by: Vaishali Verma
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