Indian Space Policy 2023 receives cabinet approval

The policy would enhance the role of India's space department, give a boost to research, academia, start-ups and industry

Indian Space policy 2023 was approved by the cabinet on Thursday last week. This new strategy aims to boost private company spending in the space industry. The duties that different organisations like ISRO, NSIL, and IN-SPACe would have were defined by the Cabinet Committee on Security, which is presided over by PM Narendra Modi.

During a cabinet briefing, Minister for State for Science and Technology Jitendra Singh said that the policy would enhance the role of India's space department, give a boost to research, academia, start-ups and industry.

The minister went on to say that the policy will allow businesses or organisations from the private sector to take part in operations including developing satellites, launch vehicles, rockets, and data collecting and distribution.

Private sector businesses would undoubtedly become interested in the announcement of the Indian Space Policy 2023's approval, as they have been waiting for it for a while. With operators like OneWeb and others expecting to provide commercial services soon, private company investments in the space sector are expected to rise in India.

Sharing his views on the approval, Lt. Gen. AK Bhatt (retd.), Director General, Indian Space Association said, "This is a historic moment as the cabinet today approved the Indian Space Policy 2023. It will pave the way forward with much-required clarity in space reforms and augment private industry participation to drive the space economy opportunity for the country. We have been waiting for it for quite some time and today's announcement has come as a pleasant surprise. We keenly await and look forward to going through the details of the policy. We would like to thank the Hon’ble Prime Minister for his visionary leadership with a special focus on long-due reforms in the Indian space sector."