Indian Space Policy 2023 Gets Cabinet Nod

New Delhi:  The Indian Space Policy 2023 was approved by the Union Cabinet on Thursday. This new space policy aims to enhance the role of the Department of Space, boost activities of ISRO missions, and give a larger participation of research, academia, startups, and industry.

The government had earlier opened up the space sector for the private sector to help boost the development of the segment. In brief, it will offer clarity in the role of the components set up (in the recent past),” said Union Minister Jitendra Singh on Thursday.

In his written reply to Rajya Sabha on Thursday, Jitendra Singh informed that at present FDI in the space sector is allowed up to 100 per cent in the area of Satellites-Establishment and Operations through the government route only.

According to him, the Indian National Space Promotion and Authorization Centre (IN-SPACe) as the regulatory and promotional body for space activities was involved in the revision of the FDI policy which is presently under consideration of the government.