ISRO Chief Says India Will Allow Private Companies To Invest In Space Sector

India is taking another look at its existing policies while also framing new ones pertaining to the participation of private players in the Indian space sector.

PTI

Also Read: 'No Space Launch By Working From Home,' ISRO Chief Hails 1st Launch Since Pandemic

This is according to Dr K Sivan, Chairman of the Indian Space Research Organisation and Secretary Department of Space, Government of India, who revealed this at the Indian Pavilion of Expo 2020 Dubai.

According to Sivan, recent changes in the Indian space sector has highlighted how the role of the private sector has transitioned from being just suppliers to actual partners in the overall journey.

Sivan revealed in a statement that the Indian government is now open to invite private players in the space sector. Moreover, ISRO is also collaborating with start-ups and industries for this.

¡°India is focussing on international collaborations, including bilateral and multilateral partnerships,¡± he said.

Also Read: Airtel Satellite Internet Coming Soon, As ISRO Rockets To Launch OneWeb In Space

Sivan also appreciated the Indo-UAE engagement in space and collaborations with ISRO in various space applications. According to Sivan, the Indian industry would play a crucial role in the space sector as more and more startups and MSMEs participate in the future. He also revealed that ISRO has teamed up with NITI and DPIIT for bringing more start-ups.

Dr K Sivan highlighted that it¡¯s a collective responsibility of government and non-government entities to make outer space safe, ¡°ISRO will be supportive of all international collaborations which benefit humanity.¡±

PTI

Also Read: Two Friends Will Send India's 1st Private Earth-Imaging Satellite On ISRO Rocket

Dr Pawan Goenka, Chairman, Indian National Space Promotion and Authorization Center (IN-SPACe) further stated that India is working on Reusable Launch Vehicle (RLV) and other advanced applications, ¡°India will also offer private services to other countries and cooperate with international agencies to develop innovative missions with cost-effective and agile launch vehicles. It¡¯s a new India that is emerging in the space sector. Global Space sector is expected to touch a trillion dollars by the end of this decade and the sector is going through a major transformation.¡±

He added, ¡°India is working on space laws and space policy to bring in industry-focused approach in place of just government focussed one currently. The evolution of start-ups in the space sector in India will lead to revolution.¡±

Keep reading Indiatimes.com for the latest in science and technology news.