Excelsior Correspondent
NEW DELHI, Feb 4 : The Government supports Indian space startups in accessing the international market through policies and mechanisms. The Indian Space Policy 2023 provides the primary framework supported with the Liberalized Foreign Direct Investment Policy for the space sector. These changes in policy framework offer financial and operational facilitation for global expansion.
This update was shared in the Lok Sabha today by the Minister for Space, Dr Jitendra Singh.
In addition, IN-SPACe engages with foreign industry and government entities to promote Indian space startups and enable collaborations. It has hosted 7 successful Space Days, led NGE delegations to events like the International Astronautical Congress (IAC), GSTCE Singapore, and Kenya Space Expo, and organized Industry Round Tables and outreach programs. These efforts have resulted in Indian startups securing business agreements in over 25 countries.
399 number of space technology start-ups (includes satellites, development of launch vehicles etc.) registered with DPIIT as per Startups India portal. Further, it is to state that IN-SPACe does not maintain the state-wise data of StartUps.
Till date, the total number of successful satellites launched by Indian space StartUps is 7 Nos., successful payloads launched by Indian space StartUps is 20 nos., and successful space vehicles launched by Indian space start-ups (sub-orbital launches) is 2 nos.
IN-SPACe has notified the Norms, Guidelines and Procedures (NGP) for Implementation of Indian Space Policy-2023 in respect of Authorization of Space Activities on 3rd May, 2024, to implement the Indian Space Policy-2023.
This NGP provides a streamlined regulatory framework for authorizing private sector space activities thus providing transparency, predictability and certainty to start-ups and other private entities.
Space programme in India has been developed over a period of more than five decades with a strong focus on application driven programmes and bringing space to the services of the common man. In the process, it has become one of the six largest space agencies in the world. ISRO maintains one of the largest fleets of GEO communication and LEO remote sensing satellites, that cater to the ever-growing demand for fast and reliable communication and earth observation respectively.
In view of the growing space sector business across the globe and to harness the huge untapped potential that exists in the country in terms of human resources, technical acumen, capabilities established in the industries in space sector, it is found prudent to enable NGEs to carry out independent space activities.
The post Dr Jitendra updates LS about international market accessibility for Space StartUps appeared first on Daily Excelsior.