Over the last few years, India has marked its presence globally in the realm of space. Missions such as Chandrayaan, Mangalyaan, INSAT series, launch of various foreign satellites, etc., are some of the significant strides made by our country in the space sector. Resultantly, India has emerged as one of the formidable players in the international space community, garnering recognition for its unwavering commitment, innovation, successful and cost-effective execution of complex missions.
The approval of the Indian Space Policy, 2023 is a pivotal juncture for India in the space sector. The policy has set the stage for many private players to finally enter the sector which was traditionally known to have been occupied predominantly by government organisations.
Anchored in the vision to enhance the space capabilities and encourage commercial activities, the policy not only welcomes private sector participation, but also seeks to cultivate an enabling environment conducive to research and development (R&D), provisioning of public goods and establishing a framework for regulation of this sector.
Joint partnerships
While the policy is a great step and includes commendable vision and strategies, taking cues from other countries, it could also touch upon aspects such as collaboration with other countries and organisations to facilitate joint partnerships and missions to optimise the space economy.
Given the ample commercial prospects in the space sector, ranging from satellite-based communication services to space mining, it is imperative to open doors to entities that can carry out a wide spectrum of activities to harness the maximum potential of this sector. To enable this, the policy has been made widely applicable to all kinds of space activities, carried out to or from the Indian territory or within its jurisdiction. Companies can now establish and operate space objects, ground-based assets, and engage in activities such as space-based communication, remote sensing, navigation, etc., in line with the prescribed guidelines and regulations.
Therefore, the policy acts as a facilitator in opening up new pathways and helping entities contribute to and participate in space exploration and innovation. Involving private companies to enter this realm can also promote private sector investment and help India remain competitive in the global space market.
The policy also sets out well-defined roles and responsibilities for various government entities. The Indian National Space Promotion and Authorisation Centre is an independent governmental body, and holds the responsibility to facilitate, supervise, and grant approval for diverse space activities within India.
The Indian Space Research Organisation (ISRO) will focus on the R&D aspects of new space technologies, including in areas such as space infrastructure, human space-flight, etc. It will also foster collaborations and partnerships with industry and academia that can bolster R&D efforts in this sector.
NewSpace India is a public sector undertaking under the Department of Space and is responsible for commercialising space technologies, including manufacturing, leasing, and procuring such space assets to serve space-based requirements.
Lastly, but most importantly, the Department of Space will play a major role in overseeing the implementation of the policy, ensuring the distribution of responsibilities outlined. These entities, together with the Department of Space, drive the aspirations set out in this visionary policy.
In essence, the introduction of the policy resonates as a game-changer, offering a canvas for private players to arrive at and thrive in a field long-held by the government. Pursuant to the implementation of the policy, it can also be expected that certain additional legal and regulatory developments will follow to further give effect to the visions and strategies envisioned by the government through this policy.
The writer is Partner at Khaitan & Co. The views are personal