NEW DELHI: The Union cabinet has approved the Indian Space Policy (ISP) 2023. This new space policy seeks to regulate and boost private sector participation in the space sector, and increase investments in the space sector.
Till now, the space sector has remained within the confines of Indian Space Research Organisation (ISRO) with full budgetary support from the government. 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.
The Indian Space Policy was approved by the Cabinet Committee on Security chaired by Prime Minister Narendra Modi.
According to Lt Gen Anil Kumar Bhatt, (Retd), Director General of Indian Space Association (ISpA), an apex industry body created to be the collective voice of the Indian Space industry, the policy would pave the way for reforms in the space sector and increase the participation of private enterprises.
