Union Cabinet approved private Sector Participation in Space Activities

Union Cabinet approved private Sector Participation in Space Activities:

         Under the Chairmanship of the Prime Minister of India Narendra Modi, to further advance India's capabilities in the space sector, the Cabinet approved the participation of the private sector in Various space activities.

        Role of IN-SPACe and NSIL:

                  The cabinet has approved setting up of Indian National Space Promotion and Authorization Center (IN-SPACe).Through friendly regulatory and encouraging policies,  (IN-SPACe) will have the responsibility to guide the private sector in various space activities.

                  State owned enterprises New Space India Limited(NSIL) was founded in March 2019. The NSIL will have the responsibility to change the economic and social policies for encouraging the private sector in space activities by making Indian Space sector demand driven from the current supply driven  model.