Government opens up space sector and assets to private sector to ‘enhance’ capacity

News: Union Government has approved the setting up of a new body named the Indian National Space Promotion and Authorization Centre(IN-SPACE).

Facts:

• IN-SPACE: It will be a national nodal agency under the Department of Space for providing a level playing field for private companies to use Indian space infrastructure.
  • It will also have its own chairman and board who will function autonomously and parallel to Indian Space Research Organization(ISRO).

Additional Facts:

• New Space India Ltd(NSIL): It was set up in 2019 under administrative control of the Department of Space(DOS).
• Objective: To enable Indian industries to take up high technology space related activities and is also responsible for promotion and commercial exploitation of the products and services emanating from the Indian space programme.