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Government plans to open FDI in space sector: Jitendra Singh

In a written reply to a question in the Lok Sabha, Singh said that there are many more startups registered under other categories are also involved in the space domain

Topics
FDI | Jitendra Singh | Lok Sabha

IANS  |  New Delhi 

Jitendra Singh
Jitendra Singh

Around 75 start-ups have registered under space technology category in the Startup India portal, Union Minister of State Science & Technology said. Further the minister added that the government plans to allow to boost the investment in the space sector by the foreign players.

In a written reply to a question in the Lok Sabha, Singh said that there are many more startups registered under other categories are also involved in the space domain.

The minister said that to facilitate private sector participation in Space activities, Department of Space (DOS) is revising the existing policies in Space domain and new policy framework is being drafted to address various space sectors such as SpaceCom, Remote Sensing, Technology Transfer, Navigation, Space Transportation, Space exploration and Space Situational Awareness. Provisions are being factored in the above policy framework for the development of private sector including MSMEs and startups in space sector.

In a reply to another question on the steps taken by the government to bring private players on board to get their participation in the Space activities of ISRO, Singh informed that the government has announced reforms in June, 2020, in the space sector towards enabling the private players to provide end-to-end services and the steps were taken -- national level autonomous Nodal Agency namely Indian National Space Promotion and Authorization Centre (IN-SPACe) under DOS has been created for promoting, handholding, authorizing and licensing private players to carry out Space Activities.

Access to facilities and expertise are extended to private entities to support their space activities. Apart from this will also nurture Indian space industries by sharing its experiences on quality and reliability protocols, documentation and testing procedures among others.

New Space India Ltd (NSIL), the CPSE under DOS will transfer the matured technologies developed by to Indian industries.

Further the minister stated that to facilitate private sector participation in Space activities, the existing policies in space domain is being revised and new policies are being drafted to address policy framework for various areas such as SpaceCom, Remote Sensing, Technology Transfer, Navigation, Space Transportation, Space exploration and Space Situational Awareness.

Similarly, in order to address the necessary legal framework, the department is also in the process of enacting a National legislation. The draft Space Activities Bill has completed Public and Legal consultations and will be processed for further approvals for inter-ministerial consultations, Singh added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, February 09 2022. 19:34 IST
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