- The Indian government recently approved the Indian Space Policy 2023, with the aim of institutionalizing and facilitating private sector participation in the Indian space sector.
- The policy’s approval by the Cabinet Committee, helmed by Prime Minister Narendra Modi, is a significant step towards transforming India into a major space power.
- Under the new policy, the Indian Space Research Organisation (ISRO) will focus on research and development of advanced space technologies.
- The private players’ participation in the space sector is crucial to increase India’s current share of less than two per cent in the global space economy to 10 per cent in the future.
- New Space India Limited (NSIL) will carry out strategic activities related to the space sector.
- NSIL will work in a demand-driven mode, according to Union Minister Jitendra Singh.
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Science
