New space policy soon, to focus on ease of doing business: PM

Outlining the way and the prospects that lie ahead, PM Modi said, “In the 21st century, the application and role of space technology is increasing everyday. The use of space tech will only continue to increase, and IN-SPACe and private players will have to continuously work on how it can be used for ease of living and for supporting the country’s development.”

“With geospatial mapping, today we have huge data available collected by government satellites but in the coming days, the private sector, too, will have its own data and this wealth of data will give you a lot of strength in the world…” he added.

Modi said the inauguration of the headquarters comes at a time when “more youth want to participate in nation building” and hence, innovation cannot happen only through the government. IN-SPACe has been set up to promote private investment and innovation in the space sector.

“If youth want to innovate, can we tell them that this will only be done from a government facility? It was unfortunate that the difference between regulation and restriction was blurred. Today, when more youth want to participate in nation building, we can’t put a condition that whatever you want to do, do it through the government. Today, we are doing continuous reforms, removing obstacles,” Modi said.
With IN-SPACe, the space sector has been opened up to private sectors and hence, they will no longer be seen as mere “vendors” supplying to a government organisation like ISRO and will rather help them innovate, he said.

Newsletter | Click to get the day’s best explainers in your inbox

“For decades, private industries associated with the space sector were seen as only vendors. As a result, their progress remained incomplete, there remained an obstacle for them,” the Prime Minister said.

“Through IN-SPACe, the shackles will be broken and the country is starting the drive for making ‘big winners’. When we combine the government’s research and development skills with the private sector’s passion, even sky will not be the limit. IN-SPACe will also facilitate transfer of technology and is also ensuring that the private sector can use ISRO’s resources, can work along with ISRO,” he added.
PM Modi also thanked ISRO, its former chairperson K Sivan and current chairperson S Somanath for facilitating the establishment of IN-SPACe.

Modi said in the near future he sees India acquiring a strong role in the global space industry, which he claims is expected to be a one trillion dollar industry.

“We have talent, experience, but our participation in the global space sector is only two percent. We will have to increase our share in the global space industry. In the coming days, I see a strong role of India in space tourism and space diplomacy,” he said.
“A mechanism has been created to ensure that needs of the private sector are heard, understood, the business opportunities are analysed, and for this purpose IN-SPACe will work as a single nodal independent agency,” Modi added.