Indian Space Policy 2023

Description

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Context

The government approved the Indian Space Policy 2023.

Details

It seeks to institutionalise the private sector participation in the space sector, with ISRO focusing on research and development of advanced space technologies.
The policy will allow the private sector to take part in end-to-end space activities that include building satellites, rockets and launch vehicles, data collection and dissemination.
The Indian Space Policy-2023, also delineated the roles and responsibilities of ISRO, space sector PSU NewSpace India Limited (NSIL) and Indian National Space Promotion and Authorization Center (IN-SPACe).
Strategic activities related to the space sector will be carried out by NSIL, a public sector undertaking under the Department of Space, which will work in a demand-driven mode.
The INSPACe, created recently, will be the interface between Indian Space Research Organisation and non-governmental entities.
The policy also spells out the framework for the private sector to use ISRO facilities for a small charge and encourages them to invest in creating new infrastructure for the sector.
ISRO will not do any operational and production work for the space sector and focus its energies on developing new technologies, new systems and research and development.
The operational part of ISRO's missions will be moved to the NewSpace India Limited, a public sector undertaking under the Department of Space.

Significance

India's share in the global space economy was less than two per cent at present and the space policy will help it increase substantially to 10 per cent in the future.
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.

INDIA’S SPACE SECTOR: https://www.iasgyan.in/daily-current-affairs/indias-space-sector

INSPACE: https://www.iasgyan.in/daily-current-affairs/indian-national-space-promotion-and-authorization-in-space

SPACE: https://iasgyan.in/daily-current-affairs/space

PRACTICE QUESTION

Q. The global space economy is currently valued at about USD 360 billion. Despite being among a few spacefaring nations in the world, India accounts for only about 2% of the space economy. Throw light on the key reforms that are being taken by the Government to drive the space economy opportunity for the country.