India’s federal government approves Space Policy 2023


India’s federal government on Thursday approved the Space Policy, 2023, which 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 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.

Earlier, the Minister in a written reply in Rajya Sabha on Thursday informed that presently FDI in space sector is allowed up to 100 per cent in the area of Satellites-Establishment and Operations through the government route only.

In a statement laid on the table of the Rajya Sabha, Jitendra Singh said that the Indian National Space Promotion and Authorization Centre (IN-SPACe) being the regulatory and promotional body for space activities was involved in revision of FDI policy which is presently under consideration of the government.

The specific role of IN-SPACe for channelling FDI will evolve after approval of revised FDI policy by the government.

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