NEW DELHI: Union Minister for Electronics and IT, Communications and Law and Justice, Ravi Shankar Prasad on Friday lauded Prime Minister Narendra Modi-led Centre for allowing private companies to participate in India's space sector.
"The Narendra Modi Govt took a historic decision by allowing private companies to participate in India's space sector. The private sector will be allowed to carry out space activities like building of rockets, satellites and providing launch services," he tweeted.
The Cabinet recently approved the newly formed Indian National Space Promotion and Authorization Centre (IN-SPACe), which will act as an arm of the Indian Space Research Organisation (ISRO). IN-SPACe, which will be functional in six months, will provide "a level playing field" to private companies in the country's space programme
The Union Cabinet had recently allowed private companies to use ISRO's infrastructure, scientific and technical resources, and even data for their space projects, which are approved by IN-SPACe.
On June 24, Minister of State for Atomic Energy and Space, Jitendra Singh announced the formation of a new institution, IN-SPACe to guide the private industries in space activities through encouraging policies in a friendly regulatory environment.
It will also hand-hold, promote, and guide the private industries in space activities through encouraging policies and a friendly regulatory environment.