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At IN-SPACe HQ, PM Modi’s big push for India’s space sector
Prime Minister Narendra Modi announced that India will soon come up with a new policy for space sector
The Indian government will soon roll out a new space policy with an aim to bring reforms in the space sector by opening it up for greater participation from the private sector.
“Like the IT sector, India’s space sector will rise to new heights...we will soon come up with a new policy for the space sector and a policy for ease of doing business,” Prime Minister Narendra Modi said on Friday after inaugurating the headquarters of the Indian National Center for Space Promotion and Authorization (IN-SPACe) in Ahmedabad.
A part of Indian Space Research Organization (ISRO), the new space centre will pave the way for space exploration for private players in space sector.
Union Home Minister Amit Shah, Gujarat chief minister Bhupendra Patel and Gujarat BJP chief C R Paatil were also present at the event. MoUs were signed between start-ups and ISRO for collaboration in the sector.
IN-SPACe will be the single-window autonomous nodal agency to enhance participation of private companies in activities related to space science, the Prime Minister said.
The union Cabinet headed by the Prime Minister approved the establishment of In-Space in June 2020.
“There were some skeptics who questioned whether anyone will be interested in investing in the space sector. Today, there are close to 60 Indian companies who have taken a lead in this space. From space applications, satellite launches to even PSLV (Polar Satellite Launch Vehicle) and rocket designs, private companies have come forward to participate,” the Prime Minister said.
IN-SPACe will take care of the needs and demands of private players, including educational and research institutions, and explore ways to accommodate these requirements in consultation with ISRO. Existing ISRO infrastructure is planned to be made accessible to interested individuals to enable them to carry out their space-related activities.
According to estimates, the global space economy is worth USD 400 billion and is expected to expand up to USD 1 trillion by 2040.
India’s share is only 2% and this is expected to go up in near future with increase in private participation, said Modi.
“I see that space tourism and space diplomacy have important role in India’s future. The reforms in the space sector will go a long way,” said Modi.
For many years, Indian companies were seen as a vendor in the space sector, he said.
“All the work was done by the government and the private sector participation was only for manufacture of some parts or equipment. The private sector was a vendor and hence it was difficult for them to make any significant progress or technological breakthrough. All this meant loss for the country,” the Prime Minister said.
“When the youth of this nation want to contribute to nation, we can’t tell them that it can only be done by government route. We want to remove all the hurdles that stops Indian youth from progressing in his path,” he further said.
The Prime Minister in his speech said that when young people want to send an alert message before an important happening, they often write: ‘watch this space’.
In the same way, we would like to emphasize that the Indian space sector is something everybody should watch out for, the Prime Minister said.
