The Indian Space Policy, 2023, was approved by the Union Cabinet on Thursday (6 April), defining the roles and responsibilities of the Indian Space Research Organisation (ISRO), NewSpace India Limited, and private sector entities.
The goal is to encourage the development of the space industry by involving private companies, which was previously restricted to the government.
"In brief, it will offer clarity in the role of the components set up (in the recent past)," the Minister of State for Science and Technology, and Earth Sciences, Dr Jitendra, Singh, told reporters.
The policy aims to enhance the role of the Department of Space, increase the activities surrounding ISRO missions, and involve more research, academia, startups, and industry.
"Prime Minister Narendra Modi took a decision to open the space sector for private participation. Today, because of this, within three years, the number of startups has reached about 150 in ISRO...," said Dr Singh at a press briefing.
"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," said Lt Gen A K Bhatt (retired), Director General, Indian Space Association.
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