Signals, Powered By EquityPandit
With the Union Cabinet approving private sector participation in space activities, K. Sivan, chairman of Indian Space Research Organisation (ISRO) has said private industry will be allowed to undertake research and development and participate in inter-planetary missions.
IN-SPACE (Indian National Space Promotion and Authorisation Centre) that was cleared by the Centre on Wednesday, will perform the role of a regulator and have on its board members from the private industry, Sivan said.
He said that the centre will act as a nodal agency to hand-hold and promote private sector participation. ‘They (private sector) can directly apply to IN-SPACE which will evaluate and process,’ he said. He added that the decision taken by IN-SPACE would be binding on Isro.
‘It will take about three to six months for this mechanism to become operational, but the industry need not wait that long. They can approach DoS (department of space) right away and be assured that their proposals will be processed in a fast-track manner,’ Sivan said.
ISRO said that IN-SPACE will have its own independent directorates for technical, legal, safety & security, monitoring as well as activities promotion for assessing the private industry requirements and further coordinating the activities.
The plan envisages opening up of space assets and data to private players to help create a level playing field in the sector. Sivan said opening up the sector was also part of the larger vision transforming India to become self-reliant through a set of socio-economic reforms. ‘The reforms in the space sector are aimed at tapping the potential of (the) entire country for unlocking its potential by enabling private enterprises and start-ups to undertake end-to-end space activities,’ he said.
