'Watch this space' urges PM as India bets big on private participation in space sector
The private sector will no longer be treated as a mere vendor but play an important role in the growth of the sunrise sector.
- Jun 10, 2022,
- Updated Jun 10, 2022 8:04 PM IST
Entry of private entities in the commercial space sector will help provide a big boost to the industry in the days to come and, therefore, everyone must "watch this space", prime minister Narendra Modi has said.
"Earlier, the private sector was only seen as a vendor in space sector-related activities, while the government had full control of the process. As a result, a wall was erected that prevented people with ideas from contributing to the industry's growth," noted the prime minister during the inauguration of the headquarters of the Indian National Space Promotion and Authoritisation Centre (IN-SPACe) in Bopal in Ahmedabad Friday.
IN-SPACe was created as a single-window nodal agency for regulating private players in commercial space sector in June 2020. Besides, the agency will allow the use of Department of Space (DOS) facilities by private entities on merit.
"Private sector won't merely remain a vendor but will be a winner. So much so that even the sky won't be a limit. As happened with the IT sector, India's space sector will achieve greater heights in the days to come," asserted the prime minister.
He said that IN-SPACe will help enhance collaborations between the Indian Space Research Organisation (ISRO) and the private sector. Liberalisation of norms for the commercial space sector was in line with the government's other initiatives such as the opening of the defence sector, drone policy, geospatial policy and enlarging the scope of work from home for the IT sector to create more opportunities for the private sector players.
"In the days to come, we see strong participation by India in space tourism and space diplomacy. It will, thus, be a matter of immense pride for us if we can create large global companies in the sector," said the prime minister.
The potential for private entrepreneurs has been demonstrated in developed western economies due to the presence of an ecosystem where they have been a major contributor to the space sector. SpaceX and Blue Origin are lead examples in this regard. In comparison, India has started encouraging private participation only in the past two years.
Also speaking on the occasion, minister of home affairs Amit Shah, said, "The establishment of IN-SPACe will encourage the development of technologies that will offer practical solutions as well as startup find the right linkages."
Terming the opening of the Ahmedabad headquarters as a red letter for the agency, Chairperson IN-SPACe, Pawan Goenka said, "IN-SPACe will provide the role of a promoter, enabler, authoriser and supervisor as part of its mandate to turn India in into a leading spaceport.
Globally, the commercial space sector is worth $360 billion. At $7 billion, India's share of the global business currently works out to around 2 per cent. By boosting private participation in the commercial space sector, the country hopes to substantially increase it to $50 billion or 10 per cent by the decade's end.
Also read: PM Modi inaugurates development projects worth Rs 3,050 cr in Gujarat
Entry of private entities in the commercial space sector will help provide a big boost to the industry in the days to come and, therefore, everyone must "watch this space", prime minister Narendra Modi has said.
"Earlier, the private sector was only seen as a vendor in space sector-related activities, while the government had full control of the process. As a result, a wall was erected that prevented people with ideas from contributing to the industry's growth," noted the prime minister during the inauguration of the headquarters of the Indian National Space Promotion and Authoritisation Centre (IN-SPACe) in Bopal in Ahmedabad Friday.
IN-SPACe was created as a single-window nodal agency for regulating private players in commercial space sector in June 2020. Besides, the agency will allow the use of Department of Space (DOS) facilities by private entities on merit.
"Private sector won't merely remain a vendor but will be a winner. So much so that even the sky won't be a limit. As happened with the IT sector, India's space sector will achieve greater heights in the days to come," asserted the prime minister.
He said that IN-SPACe will help enhance collaborations between the Indian Space Research Organisation (ISRO) and the private sector. Liberalisation of norms for the commercial space sector was in line with the government's other initiatives such as the opening of the defence sector, drone policy, geospatial policy and enlarging the scope of work from home for the IT sector to create more opportunities for the private sector players.
"In the days to come, we see strong participation by India in space tourism and space diplomacy. It will, thus, be a matter of immense pride for us if we can create large global companies in the sector," said the prime minister.
The potential for private entrepreneurs has been demonstrated in developed western economies due to the presence of an ecosystem where they have been a major contributor to the space sector. SpaceX and Blue Origin are lead examples in this regard. In comparison, India has started encouraging private participation only in the past two years.
Also speaking on the occasion, minister of home affairs Amit Shah, said, "The establishment of IN-SPACe will encourage the development of technologies that will offer practical solutions as well as startup find the right linkages."
Terming the opening of the Ahmedabad headquarters as a red letter for the agency, Chairperson IN-SPACe, Pawan Goenka said, "IN-SPACe will provide the role of a promoter, enabler, authoriser and supervisor as part of its mandate to turn India in into a leading spaceport.
Globally, the commercial space sector is worth $360 billion. At $7 billion, India's share of the global business currently works out to around 2 per cent. By boosting private participation in the commercial space sector, the country hopes to substantially increase it to $50 billion or 10 per cent by the decade's end.
Also read: PM Modi inaugurates development projects worth Rs 3,050 cr in Gujarat