Private participation in the space sector

The Government has launched the Indian Space Promotion and Authorisation Centre (IN-SPACe) to promote private investment and innovation in the space sector, Minister of State for Atomic Energy and Space Dr Jitendra Singh said in a written reply to Rajya Sabha on 22 Sept 2020.

IN-SPACe will facilitate and support the Private Sector in the following ways:

Provide technical support

Share cash intensive facilities

Allow to establish temporary facilities in DOS premises

Allow to bid for requirements coming from NSIL

Partner in science and space exploration missions

IN-SPACe is the Institutional and Regulatory mechanism established by Government to facilitate greater private participation. Financial provisions are not covered under this mechanism.

Private players can participate in:

Building satellites

Building launch vehicles

Carry out launches

Develop Applications & provide space-based services

Develop subsystem and systems for space sector activities

#space #innovation #technology #incentives #investment /fiinews.com

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