India Unleashing Reforms In Space Domain
India’s formal entry into space industry was largely in 1962 when Indian National Committee for Space Research was established by Government of India under the aegis of Dr. Vikram Ambalal Sarabhai. In addition to the Draft Space FDI Policy, ISRO revealed the Indian Space Policy 2023 on April 20, 2023. With the advent of Indian Space Policy 2023 and the proposed Draft Space FDI Policy, the Indian space program would be able to maintain cost competitiveness in the international space market and hence generate a number of employments in the space and other related sectors, which in turn will unleash the full potential of India’s young people and entrepreneurs. For the space industry, which is by its very nature capital-intensive, a forward-looking FDI policy and other reforms, along with the Indian Space Policy, 2023 for start-up space enterprises, would be a welcome move. However, it’s too soon to comment on the recent reforms and only time will tell if the proposed Space FDI Policy could open the doors for new avenues in the Indian space industry, if the Indian Space Policy 2023 would be able to attract sufficient private participation from the industry, and whether SpIN could be a game changing platform.
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