Indian Space Policy 2023 Key Points
The government has approved the Indian Space Policy (ISP) 2023, to boost private sector participation and increase investments in the space sector from private companies.
The policy seeks to institutionalize the private sector participation in the space sector, with ISRO focusing on research and development of advanced space technologies.
India’s share in the global space economy (currently at less than 2%) will be increased to 10% in the future.
The policy delineates the roles and responsibilities of ISRO, NSIL adn INSPACe:
ISRO: It will focus on developing new technologies, new systems, and research and development. It will not do any operational and production work for the space sector.
NSIL: It will carry out strategic activities related to the space sector and will work in a demand-driven mode.
INSPACe: It will be the interface between Indian Space Research Organization and non-governmental entities.