Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved widescale reforms in the space sector aimed at boosting private sector participation in the entire range of space activities, an official release stated.
The proposed reforms will enhance the socio-economic use of space assets and activities, including through improved access to space assets, data and facilities. The decision taken is in line with the long-term vision of the Prime Minister of transforming India and making the country self-reliant and technologically advanced.
These reforms will allow ISRO to focus more on research and development activities, new technologies, exploration missions and human spaceflight programme.
The Public Sector Enterprise ‘New Space India Limited (NSIL)’ will endeavour to re-orient space activities from a ‘supply driven’ model to a ‘demand driven’ model, thereby ensuring optimum utilization of our space assets.
This will not only result in the accelerated growth of this sector but will enable the Indian Industry to be an important player in the global space economy, the release said.