Why in News?

• The Indian Space Policy 2023 was recently approved by the Cabinet Committee on Security. The policy seeks to institutionalise private sector participation in the space sector, with ISRO focusing on research and development of advanced space technologies.

Highlights

• The policy will pave the way forward with much-required clarity in space reforms and augment private industry participation to drive the space economy opportunity for the country.
• The policy delineates the roles and responsibilities of Indian Space Research Organisation (ISRO), space sector PSU NewSpace India Limited (NSIL), and Indian National Space Promotion and Authorization Center (IN-SPACe).
• Strategic activities related to the space sector will be carried out by NSIL, which will work in a demand-driven mode.
• IN-SPACe will be the interface between ISRO and non-governmental entities.
• ISRO will focus its energies on developing new technologies, new systems and research and development.
• The operational part of ISRO’s missions will be moved to the NewSpace India Limited.
• The policy will allow the private sector to take part in end-to-end space activities that include building satellites, rockets, and launch vehicles, data collection and dissemination.
• The private sector can use ISRO facilities for a small charge and is encouraged to invest in creating new infrastructure for the 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 6^th 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.