Union Cabinet approves Indian Space Policy, 2023 to increase private sector participation in space sector
The Cabinet Committee on Security chaired by Prime Minister Narendra Modi has approved the Indian Space Policy 2023 on April 06, 2023.
The policy seeks to institutionalise the private sector participation in the space sector, and channelise the focus of ISRO on research and development of advanced space technologies.
The private sector will be able to take part in end-to-end space activities including building satellites, rockets and launch vehicles, data collection and dissemination.
The roles and responsibilities of ISRO, space sector PSU NewSpace India Limited (NSIL) and Indian National Space Promotion and Authorization Center (IN-SPACe) have also been specified in the new policy.
AS per the policy, ISRO will not do any operational and production work for the space sector. It shall focus on developing new technologies, new systems and research and development.
The strategic activities related to the space sector will be carried out by NSIL.
The INSPACe will be the interface between ISRO and non-governmental entities