Sign In
Learn bits
Science & Tech.
Pradeep Kumar

06/07/21 11:20 AM IST

Space investors

In news

Potential foreign investors in India’s space sector are unsure if their licence applications would get ‘a fair consideration’ and are wary of a possible conflict of interest given that the Department of Space is both the sectoral regulator and a service provider by way of its role overseeing the Indian Space Research Organisation (ISRO).

Details
  • Observing that the reforms announced in June 2020 to open the sector to private investors were a significant departure from the ‘virtual monopoly’ of state-controlled ISRO and allied entities, the U.K. India Business Council said there was, however, a ‘lack of clarity’ about several aspects related to the procedures.
  • Foreign Direct Investment up to 100% has been allowed under the government route in satellite establishment and operation, subject to the sectoral guidelines of the Department of Space and ISRO.
  • The processes for authorisation to launch a satellite, the frequency allocation mechanism and even the details of different agencies involved in these clearances were not clear, the Council said, calling for the regulatory structure to be refined.
  • Indian National Space Promotion and Authorisation Centre (IN-SPACe), a newly created regulatory body, has received at least 26 applications from Indian and foreign firms that include proposals to set up ground stations and make and launch satellites.
Source: The Hindu

More Related Current Affairs View All

22 Jan

Maha Kumbh: A confluence of faith and culture

'Kumbh, derived from a Sanskrit word which means a pitcher, is rotationally held every three years at the four riverside cities of Prayagraj, Haridwar, Ujjain and Nasik' The A

Read More

22 Jan

TRAI combating spams

'The Telecom Regulatory Authority of India (TRAI) will be using distributed ledger technology (DLT) to register spam preferences from customers.' In order to fight the deluge of

Read More

22 Jan

Status of the Smart Cities Mission

'Almost a decade has passed since the Indian government announced the concept of “smart cities” as the new lighthouses of urbanisation.' The June 2015 announcement o

Read More

India’s First Ai-Driven Magazine Generator

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