The Cabinet Committee on Security chaired by Prime Minister Narendra Modi approved the Indian Space Policy (ISP) 2023 on April 6.
Key points
- The policy lays down the roles and responsibilities of organizations such as the Indian Space Research Organisation (ISRO), and private sector entities.
- The new space policy seeks to regulate and boost private sector participation in the space sector.
- It looks to increase investments in the space sector from private companies.
- The policy would enhance the role of India’s space department, boost research, academia, start-ups, and industry.
- The policy addresses the liability issue in case of any fallout or destruction of space assets.
- Since India is a party to the Outer Space Treaty, the Liability Convention, and the Registration Convention, the responsibility for any destruction or damage lies with the government.
- The government aimed to address the crucial issue of the control and access of the dual-use space technology (can often be used for both civil and military purposes) or IP that protects or threatens national security.
- Industry demanded that IP must be examined on a case-by-case basis.
- The policy also directs and provides the greater opportunity, more time and resources to focus on deep-space scientific and technological research.
Importance of space policy
- The Policy thrust on privatization will enable the space sector to be more innovative and sustainable. The space sector has remained within the confines of Indian Space Research Organization (ISRO) with full budgetary support from the government.
- Despite leading in complex space tech and launch vehicles, the Indian space market is worth $7 billion, which is just about 2% of the global space market.
- The entry of the private sector in the space sector would enable the ISRO to channelise its focus on research and development of advanced space technologies.
