![\"Private](\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2024\/02\/Private-Participation-in-Indias-Space-Sector.png?resize=473%2C369&ssl=1\")
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Source-This post on Private participation in India\u2019s space sector<\/strong> has been created based on the article \u201cPrivate participation: The space sector has opportunities for India<\/strong>\u201d published in \u201cBusiness Standard<\/strong>\u2019\u2019 on 28 February 2024.<\/p>\n UPSC Syllabus:<\/strong> –GS paper-3<\/strong>– Awareness in the fields of IT, Space, Computers, Robotics, Nano-technology, Bio-technology<\/p>\n News-<\/strong>The article discusses the significance of increasing private sector participation in space. Private Participation in India\u2019s Space Sector<\/strong><\/p>\n 1) Unleashing the true potential of space economy<\/strong>– Currently, India’s space economy is worth $8 billion. This is just 2 per cent of the global space economy.<\/p>\n 2) Space station<\/strong>-India intends to launch its own space station by 2035. Thus, it would require funding not only from government sector but private sector also.<\/p>\n 3) Strategic Goals<\/strong>-Space has become one of the dimensions of modern warfare. This requires optimal use of space and private sector participation can help in achieving this objective.<\/p>\n 4) Lower the burden on ISRO-<\/strong>Enhanced private sector participation would allow the Indian Space Research Organization to exclusively focus on research and development.<\/p>\n A detailed article on Private-sector participation in space<\/strong> can be read here<\/a>.<\/p>\n 1) IN-SPACE<\/strong>: This was launched to provide a level playing field for private companies to use Indian space infrastructure.<\/p>\n 2) New Space India Limited (NSIL)<\/strong>: Its aim is to use research and development carried out by ISRO over the years for commercial purposes through Indian industry partners.<\/p>\n 3) Indian Space Association (ISpA)<\/strong>: It aims to open the Indian space industry to private companies and startups. For ex- around 190 startups are working in this area.<\/p>\n 4) Liberalized FDI regime<\/strong>-The government has allowed following fields under automatic route- <\/p>\nWhat is the need for attracting private sector participation in the space sector?<\/strong><\/h2>\n
What are the steps taken by the government to enhance private sector participation in the space sector?<\/strong><\/h2>\n
\nA) Firms in satellite manufacturing and operation, satellite data products and ground segment, and user segment can get FDI up to 74 %.
\nB) For manufacturing components and systems\/subsystems for satellites,100 % FDI is allowed.<\/p>\nRead More UPSC Topics-<\/strong><\/h2>\n