Sign In
Learn bits
Polity & Governance
Mahesh

11/04/23 06:41 AM IST

Indian Space Policy 2023

In News
  • The Central government approved the Indian Space Policy 2023 recently. 
  • The policy seeks to institutionalise private sector participation in the space sector.
Provisions of the policy
  • The policy delineated the roles and responsibilities of ISRO, space sector PSU NewSpace India Limited (NSIL) and the Indian National Space Promotion and Authorization Center (IN-SPACe).
  • The Policy thrust on privatization will enable the space sector to be more innovative and sustainable. It is crucial if India wants to be competitive in global space ecosystems.
  • The government aims to drive the overall growth of Indian commercial space activities by creating a regulatory environment in compliance with international law and by addressing the previous hurdles to the goal of encouraging the private sector.
  • The ISP also addresses the liability issue in case of any fallout or destruction of space assets.
  • Since India is a party to the Outer Space Treaty, the Liability Convention, and the Registration Convention, the responsibility for any destruction or damage lies with the government.
  • Within the policy framework, the government aimed to address the crucial issue of the control and access of the dual-use space technology or IP that protects or threatens national security. Industry demanded that IP must be examined on a case-by-case basis.
  • The policy will help India increase its share in the global space economy substantially from less than 2% to 10% in the future.
India's Space Sector
  • The Indian Space Sector has been globally recognised for building cost-effective satellites, and now India is even taking foreign satellites to space.
  • As part of India's commitment to the Geneva Conference on Disarmament, the country continues to advocate peaceful and civilian use of outer space and oppose any weaponization of space capabilities or programs.
  • ISRO is the 6th largest space agency in the world and holds an exceptional success rate.
  • With over 400 private space companies, India ranks fifth globally in no. of space companies.
Source- India Today

More Related Current Affairs View All

24 Jan

Enemy property

'Madhya Pradesh High Court has asked actor Saif Ali Khan to approach the appellate authority against an order of the central government that declared historical properties of the P

Read More

24 Jan

Appointment of ad hoc Judges

'Recently, the Supreme Court suggested temporarily appointing retired judges on an ad hoc (as required) basis to address the growing backlog of pending criminal cases before severa

Read More

24 Jan

Beti Bachao Beti Padhao’

'Exactly a decade ago, on January 22, 2015, Prime Minister Narendra Modi launched the Beti Bachao Beti Padhao (BBBP) program to arrest the decline in the child sex ratio.' Ini

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps