The Indian government recently approved the Indian Space Policy 2023, with a view to institutionalizing the private sector participation in the Indian space sector. The policy’s approval is a significant step towards transforming India into a major space power.
The Indian Space Policy-2023 was approved by the Cabinet Committee on Security helmed by Prime Minister Narendra Modi.
The Space Policy has delineated the roles and responsibilities of Indian Space Research Organisation( ISRO), space sector PSU NewSpace India Limited (NSIL) and Indian National Space Promotion and Authorization Center (IN-SPACe). The INSPACe will act as the interface between ( ISRO) and non-governmental entities.
The Indian Space Policy 2023 will boost the country's space department's role and give an impetus to research, academia, startups, and industry.
The state policy will help India increase share in the global space economy to 10 per cent in the future which is less than two per cent at present.
Space sector PSU New Space India Limited (NSIL) will carry out strategic activities related to the space sector.
