{"id":31376,"date":"2024-10-25T17:38:03","date_gmt":"2024-10-25T12:08:03","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=31376"},"modified":"2024-10-25T17:38:05","modified_gmt":"2024-10-25T12:08:05","slug":"private-sector-participation-in-space","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/25-10-2024\/private-sector-participation-in-space","title":{"rendered":"Private Sector Participation in Space\u00a0"},"content":{"rendered":"\n<p><strong>Syllabus :GS 3\/Economy&nbsp;<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In News\u00a0<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Union Cabinet has approved a \u20b91,000 crore venture capital fund to support firms in the space technology sector.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Historical Developments<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India&#8217;s space programme has evolved over more than five decades, focusing on application-driven initiatives to serve the common man.<\/li>\n\n\n\n<li><strong>Indian Space Research Organisation (ISRO)<\/strong> is advancing with missions to the moon and sun, and plans for space telescopes and manned missions.<\/li>\n\n\n\n<li>ISRO has partnered with<strong> both public and private firm<\/strong>s like HAL, Antrix, and Godrej Aerospace to manufacture space components.\n<ul class=\"wp-block-list\">\n<li><strong>Antrix Corporation (1992)<\/strong> was created to commercialize ISRO&#8217;s products internationally.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>ISRO&#8217;s growth is complemented by a<strong> burgeoning private space sector.<\/strong><\/li>\n\n\n\n<li>ISRO is now one of the six largest space agencies globally, operating a significant fleet of GEO communication and LEO remote sensing satellites.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/26-07-2022\/private-sector-investment-in-space-industry\"><strong>Private Sector Involvement<\/strong><\/a><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The past few years have been significant for the growth of India&#8217;s private space sector.\u00a0<\/li>\n\n\n\n<li>Over 200 start-ups have emerged since the early 2010s, focusing on satellite design, manufacturing, and launch services.<\/li>\n\n\n\n<li><strong>Key start-ups include: <\/strong>Dhruva Space: Custom satellite design and ground stations.\n<ul class=\"wp-block-list\">\n<li>Skyroot Aerospace: Private launch vehicles and successful launches.\n<ul class=\"wp-block-list\">\n<li>Skyroot Aerospace launched the first Indian private rocket, Vikram-S, in 2022.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Agnikul Cosmos: Innovative mobile launchpad and propulsion systems.\n<ul class=\"wp-block-list\">\n<li>Agnikul Cosmos launched the world\u2019s first rocket with a fully 3D-printed engine from its private launch pad in 2024.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Manastu Space: Green technology for propulsion and satellite services.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Regulatory Framework:<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>IN-SPACe:<\/strong> IN-SPACe is an autonomous agency under the Department of Space, established in 2020 to facilitate private sector participation in space activities.\n<ul class=\"wp-block-list\">\n<li>IN-SPACe has signed around 45 MoUs with NGEs and has implemented various supportive schemes like the Seed Fund Scheme and Technology Transfer initiatives.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Anusandhan National Research Foundation:<\/strong>This foundation aims to enhance public-private partnerships in scientific research, with a projected budget of \u20b950,000 crore over five years, largely sourced from non-government funding.<\/li>\n\n\n\n<li><strong>National Geospatial Policy (2021): <\/strong>Facilitates private access to geospatial data.<\/li>\n\n\n\n<li><strong>Indian Space Policy (2023)<\/strong>: Allows private companies to operate satellites and launch vehicles, enhancing market participation.<\/li>\n\n\n\n<li><strong>FDI Policy: <\/strong>The Indian government allows 100% foreign direct investment (FDI) in the space sector, attracting overseas funding.\n<ul class=\"wp-block-list\">\n<li>Amendments:Centre amended its FDI policy, allowing up to <strong>74% FDI for satellite manufacturing and operation<\/strong>, up to 49% FDI for launch vehicles, spaceports and associated systems and 100% FDI to manufacture components and systems\/sub-systems for satellites, ground and user segments.\n<ul class=\"wp-block-list\">\n<li>\u00a0Beyond the above mentioned limits investment is allowed in these segments via the government route.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>NewSpace India Limited (NSIL):<\/strong>Established in 2019 to enhance indigenous production and support domestic customers.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Recent Developments<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>IN-SPACe has proposed a Rs.1000 crore Venture Capital Fund to support the growth of India&#8217;s space economy, currently valued at 8.4 billion dollars , with a target to reach $44 billion by 2033.\u00a0<\/li>\n\n\n\n<li>The fund will be deployed over five years, starting with \u20b9150 crore in the 2025-26 financial year, followed by \u20b9250 crore annually for the next three years, and \u20b9100 crore in 2029-30.<\/li>\n\n\n\n<li>It will serve as an Alternative investment Fund under SEBI regulations, providing early-stage equity to startups and enabling them to scale for further private equity investments.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The proposed fund is expected to boost employment in the Indian space sector by supporting startups across the entire space supply chain\u2014upstream, midstream, and downstream.\u00a0<\/li>\n\n\n\n<li>It will help businesses scale, invest in R&amp;D, and expand their workforce.\u00a0<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Future Prospects:<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Despite private sector growth, ISRO remains the key player, launching numerous foreign satellites and leading various significant missions.<\/li>\n\n\n\n<li>The goal is to grow India\u2019s space economy from $8 billion to $100 billion by 2040, with continued leadership from ISRO and collaboration with private start-ups.<\/li>\n\n\n\n<li>The sector&#8217;s future success depends on robust policy implementation, supportive ecosystems, and seamless collaboration between the government, ISRO, and private entities to realize India&#8217;s space ambitions both domestically and globally.<\/li>\n<\/ul>\n\n\n\n<p><strong>Source: TH<\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet has approved a \u20b91,000 crore venture capital fund to support firms in the space technology sector.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-31376","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=31376"}],"version-history":[{"count":1,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31376\/revisions"}],"predecessor-version":[{"id":31377,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/31376\/revisions\/31377"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=31376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=31376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=31376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}