E3.3 Expanding the Horizons of Indian Commercial Space Sector through Policy, Regulation and Collaboration

Symposium: E3. 37th IAA SYMPOSIUM ON SPACE POLICY, REGULATIONS AND ECONOMICS
Session: 3. Space Economy Session – A Focus on Space Sustainable Operations and the Role of Governments l To Stimulate Sustainable Economic Development for Both In Space and On Earth.
Day: Wednesday 16.10.2024
Time: 10:15 CEST
Room: Brown Hall 2

Pawan GOENKA

Chairman, Indian National Space Promotion and Authorization Centre (IN-SPACe), Department of Space, Government of India

India

This keynote will discuss the Indian Space Sector reforms and its impact in enhancing India's space ambitions. India's space sector is undergoing an exciting transformation. The operationalization of the Indian National Space Promotion and Authorization Centre (IN-SPACe) as a Regulator and Promoter of Space activities in 2022 opened the doors for an inclusive participation of private sector in the national Space Sector. This was followed by a comprehensive Indian space policy and most recently, a liberalized Foreign Direct Investment (FDI) policy offering automatic approval for investments up to 49% in launch vehicles, 74% in Satellites and 100% in subsystem manufacturing. The relaxed FDI norms provide a clear and flexible investment framework, making India an attractive destination for global investors. A National Space Act is also being worked out with an aim to bring in a wholistic legislative framework to the Indian space sector. Such robust policy certainty measures and follow-up efforts like the release of a Norms, Guidelines and Policy Documentation for the Authorization of Space Sector activities, Transfer of Commercial ready ISRO Technologies to the Private Sector including Small Satellite Launch Vehicle built by Indian Space Research Organization, initiating the setting up of a new launch port for Small Launch Vehicles, announcing the setting up of an US $125 Million, VC fund for Space Start-ups by Government and an Earth Observation Satellite Constellation with Ground segment exclusively set by the Private sector in a Public-Private Partnership Model etc have undoubtedly setup a very spring board for the Indian Space economy to expand and grow. IN-SPACe has released a Decadal Vision and Strategy for the Indian Space Sector, where an aspirational economic value of US $44 Billion in the next 10 years has been estimated.

These reform exercises have been very enthusiastically received by the Private Sector. IN-SPACe has received over 500 proposals and over 700 Space Organizations registered with it, in the last couple of years.

ISRO over the years, while leading exemplary programs like the Chandrayaan-3, Mangalyaan etc, has also established a very robust private vendor ecosystem consisting of thousands of suppliers who have been playing a very significant role in all such national programs. The knowledge and adherence to space process standards coupled with IN-SPACe led policy reforms are expected to enhance the opportunities for this vendor ecosystem in India and help position the country as a Manufacturing hub for Space Activities.

International cooperation is a cornerstone of India's space program. This keynote will outline strategies for forging sustainable alliances with global space players.