Indian Space Policy 2023: Aim to enhance role of Dept of Space, boost activities of ISRO

The specific role of IN-SPACe for channelizing FDI will evolve after the approval of the revised FDI policy by the government

PGurus Newsdesk

April 7, 2023

The specific role of IN-SPACe for channelizing FDI will evolve after the approval of the revised FDI policy by the government

Union Cabinet approves Indian Space Policy 2023 to boost private participation

The Indian Space Policy, 2023, which was approved by the Union Cabinet on Thursday, aims to enhance the role of the Department of Space, boost activities of ISRO missions, and give a larger participation of research, academia, startups, and industry.

The government had earlier opened up the space sector for the private sector to help boost the development of the segment. “In brief, it will offer clarity in the role of the components set up (in the recent past),” said Union Minister Jitendra Singh on Thursday.

Earlier, the Minister in a written reply in Rajya Sabha on Thursday informed that presently FDI in the space sector is allowed up to 100 percent in the area of Satellites-Establishment and Operations through the government route only.

In a statement laid on the table of the Rajya Sabha, Jitendra Singh said that the Indian National Space Promotion and Authorization Centre (IN-SPACe) being the regulatory and promotional body for space activities was involved in the revision of FDI policy which is presently under consideration of the government.

The specific role of IN-SPACe in channelizing FDI will evolve after the government approves the revised FDI policy.

[With Inputs from IANS]

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