Indian Space Policy 2023

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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.

https://www.thehindubusinessline.com/news/science/cabinet-gives-nod-to-indian-space-policy-2023/article66708202.ece