“Indian Space Policy opens up the sector for enhanced participation of Non-Government Entities across the entire value chain of the space economy,” said Union Minister Jitendra Singh. The policy envisions enabling, encouraging, and developing a flourishing commercial presence in space.
Traditionally, the Indian space sector has been controlled by governmental organizations like the Indian Space Research Organisation (ISRO). It has been in charge of India’s endeavors in space exploration and the development of satellite initiatives.
The government has set up the Indian National Space Promotion and Authorization Centre (IN-SPACe) as a single-window agency for promotion and authorization of space activities, informed the Minister in a written reply in the Rajya Sabha. Further, the budget allocation for IN-SPACe for 2023–24 is Rs 95 crore.
The result of such reforms was the launch of India’s first privately developed rocket, Vikram-S, by Hyderabad-based space startup Skyroot Aerospace.
India establishing itself as a reliable global space power
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 with DD News, 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.