Until recently, areas of operation which held national relevance were reserved for ISRO and its arms. Increased involvement of the private sector in space will be facilitated by IN-SPACe, which will act as an interface between ISRO and non-governmental entities. Through expanded collaboration, the private sector will be able to use ISRO’s facilities for a small charge. Entry of private stakeholders, on the other hand, will help create new infrastructure for the sector. The Indian space sector has already ventured into taking foreign satellites into space. Through the new policy, a renewed thrust for private sector involvement will inject sustainability and innovation to empower India to be a competitive player in global space ecosystems.
The policy also introduces regulatory mechanisms to supervise the functioning of commercial space activities in the domestic market, ensuring its commitment to international space treaties such as the Geneva Conference on Disarmament. 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. Furthermore, ISP addresses liability issues in the event of any fallout or destruction of space assets, keeping in line with India’s commitment to the Outer Space Treaty, the Liability Convention, and the Registration Convention. The policy is slated to help India increase its share in the global space economy substantially from less than two per cent to ten per cent in the future.