Indian Space Policy 2023 Aims To Promote Private Sector Participation In Space Economy

The Indian Space Research Organisation (ISRO) released the Indian Space Policy 2023 on April 20, which aims to encourage and promote greater private sector participation in the entire value chain of the space economy. The policy comes after the opening up of the space domain in 2020 and seeks to provide regulatory certainty to stakeholders in space activities.

The policy aims to augment India’s space capabilities and pursue international relations for national security and exploration of outer space. It also focuses on encouraging research and development (R&D) in the space sector, creating a stable and predictable regulatory framework for private players, and providing public goods and services using space technology.

One of the key objectives of the Indian Space Policy 2023 is to promote space-related education and provide support to space sector start-ups. The policy aims to use space as a driver for overall technology development, nurture scientific temperament in the society, and increase awareness of space activities.

To facilitate private sector participation, the policy provides specifics in terms of what a non-governmental entity or a private player is allowed to do in terms of taking up space activities. The role of ISRO, and other government bodies such as Indian National Space Promotion and Authorisation Centre, ISRO’s commercial arm NewSpace India Limited (NSIL), and the Department of Space, is also defined in the policy.

The Indian Space Policy 2023 is a composite and dynamic framework that aims to implement the reform vision approved by the Cabinet. The policy seeks to provide regulatory certainty to space activities by various stakeholders, in order to create a thriving space ecosystem.

In addition to promoting private sector participation, the Indian government aims to enhance India's capabilities in space exploration and science. The policy also aims to develop indigenous technologies, reduce dependency on foreign countries, and create employment opportunities in the space sector.

The Indian Space Policy 2023 is in line with the Indian government's vision of Atmanirbhar Bharat (self-reliant India) and Make in India. The policy aims to create an enabling environment for private players to invest in the space sector and contribute to the growth of the Indian economy.

Indian Space Policy 2023 to Encourage Private Sector Participation in Space Economy

The Indian Space Policy 2023 seeks to promote greater private sector participation in the entire value chain of the space economy. The policy aims to create a stable and predictable regulatory framework for private players and provide public goods and services using space technology.

Indian Government to Provide Regulatory Certainty to Stakeholders in Space Activities

The Indian Space Policy 2023 aims to provide regulatory certainty to space activities by various stakeholders, in order to create a thriving space ecosystem. The policy provides specifics in terms of what a non-governmental entity or a private player is allowed to do in terms of taking up space activities.

Indian Space Policy 2023 Aims to Nurture Scientific Temperament and Increase Awareness of Space Activities

The Indian Space Policy 2023 aims to promote space-related education, nurture scientific temperament in the society, and increase awareness of space activities. The policy seeks to use space.