Home / News / India /  Govt proposes to widen private players’ participation in space domain: Jitendra Singh
Back

New Delhi: Union Minister Jitendra Singh on Thursday said the central government proposes to widen the participation of private players in space domain, by allowing them to undertake end-to-end space activities.

In a written reply to a question in the Rajya Sabha today, Jitendra Singh said, a single-window agency, Indian National Space Promotion & Authorization Centre or INSPACe has been created in this regard to promote, handhold and authorize space activities of non-government entities (NGEs).

The minister also said New Space India Limited (NSIL), a Central Public Sector Enterprise under Department of Space, has been mandated to carry out operational and commercial activities, so far largely conducted by Isro.

On whether government has prepared a policy to define commercial activities of space that are available for private sector handled by NSIL and Isro, Jitendra Singh said, the Department of Space is in the process of formulating a comprehensive, overarching space policy, that shall bring clarity on roles of various stakeholders.

The policy has undergone extensive deliberations with industry groups, inter-ministerial consultations and is under further approval process.

The central government will soon announce a National Space Policy that will allow private sector companies to manufacture satellite launch vehicles and speed up the pace of satellite manufacturing in India.

India’s space industry is predicted to be worth approximately $13 billion by 2025, with the satellite launch services segment expected to develop at the highest rate due to rising private engagement.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout