PARLIAMENT QUESTION: PROMOTION OF PRIVATE SECTOR IN SPACE SECTOR
PARLIAMENT QUESTION: PROMOTION OF PRIVATE SECTOR IN SPACE SECTOR
The following steps are taken by the Government to further promote private sector involvement and the growth of startups in the space sector in India:
This information was given by Union Minister of State (Independent Charge) for Science and Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh in a written reply in the Lok Sabha today.
- The space sector has been liberalised and private sector allowed to carry out end to end space activities.
- Indian National Space Promotion and Authorization Centre (IN-SPACe) was created in Department of Space for promoting, authorising and overseeing the activities of Non-Government Entities (NGEs) in Space Sector.
- The Indian Space Policy, 2023 has been formulated by the Government to provide regulatory certainty to space activities by various stakeholders, in order to create a thriving space ecosystem.
- Various schemes to encourage and hand hold private sector also announced and implemented by IN-SPACe, i.e., Seed fund Scheme, Pricing Support Policy, Mentorship support, Technical Centre, Design Lab for NGEs, Skill Development in Space Sector, ISRO facility utilisation support, Technology Transfer to NGEs, creation of IN-SPACe Digital Platform to connect with all the stakeholders of space ecosystem etc.
- The number of Space Start-Ups have gone up, from just 1 in 2014 to around 266 as on date.
- Decadal vision and strategy for Indian space economy is also announced by IN-SPACe, which shall increase the share of India in overall space economy.
- The Union Cabinet has approved the establishment of a Rs.1,000 crore Venture Capital (VC) Fund dedicated to supporting India’s space sector.
- IN-SPACe has signed around 71 MoUs with Non-Government Entities (NGEs) to provide necessary support for realization of space systems and applications envisaged by such NGEs, which is expected to increase the industry participation in manufacturing of launch vehicles and satellites.
- In order to ease access to foreign capital by Indian NGEs, the Central Government has brought out revised FDI policy for Space Sector.
- IN-SPACe has initiated Establishment of Earth Observation (EO) System under Public Private Partnership (PPP). The Expression of Interest (EOI) is invited from Non-Government Entities (NGEs).
- Technology Transfer of Small Satellite Launch Vehicle (SSLV) to Indian entities is under process and response to RFP is invited from shortlisted bidders.
- Announcement of Opportunity is made by IN-SPACe for making available Indian orbital resources to the NGEs. One Indian entity is selected.