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

What

  1. The minister said that to facilitate private sector participation in Space activities, the Department of Space (DOS) is revising the existing policies in the Space domain.
  2. 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.
  3. Provisions are being factored in the above policy framework for the development of the private sector including MSMEs and startups in the space sector.
  4. The steps taken by the government to bring private players on board to get their participation in the Space activities of ISRO was announced in June, 2020.
  5. 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.
  6. New Space India Ltd (NSIL), the CPSE under DOS will transfer the matured technologies developed by ISRO to Indian industries.
  7. In order to address the necessary legal framework, the department is also in the process of enacting a National legislation.
  8. The draft Space Activities Bill has completed Public and Legal consultations and will be processed for further approvals for inter-ministerial consultations.