Twenty seven new proposals have been received by the Indian government from private companies for various space-related activities, the Minister of State for Science and Technology, Dr Jitendra Singh, informed the Lok Sabha, the lower house of the Indian Parliament.
The proposals cover the ambit of building and operating launch vehicles, satellites; providing satellite-based services; establishing ground segments; research partnerships and providing mission services.
“The global space economy is poised to grow over a trillion dollars in the next two decades. With the space sector reforms, the Indian private space industry is slated to contribute to the core elements of the global space economy,” the Ministry of Science and Technology said in a statement.
“Participation of the private sector including academic institutions, start-ups and industries in end-to-end space activities is expected to expand the national space economy, generate more employment opportunities and create better manufacturing facilities,” the ministry stated.
The Cabinet recently approved the participation of the private sector in the entire range of space activities including planetary exploration missions.
ISRO chief K Sivan had said at a press meet held in June that the Center’s decision to open up the space sector to private enterprises will put India in a new league. “The space sector, where India is among a handful of countries with advanced space technology, can play a significant role in boosting the industrial base of India. The government has decided to implement reformed measures to leverage ISRO’s achievement by opening the space sector for private enterprises,” Sivan said.
In 2020, the Cabinet had approved the participation of the private sector in the entire range of space activities, including planetary exploration missions. The government assured players that it will promote and guide the private industries in space activities through encouraging policies and a friendly regulatory environment.
