• Prime Minister Narendra Modi inaugurated the headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) in Ahmedabad.

• It is set up to promote private investment and innovation in the space sector. 

• The global space industry is valued at $400 billion and has the potential to become a $1 trillion industry by 2040. 

• The government is working on a new space policy for increasing the coordination between government companies, space industry, startups and institutions, the PM said. It will provide ease of doing business in the sector, he added.

• The inauguration function also witnessed the signing of MoUs between IN-SPACe and private sector companies working in the field of space-based applications and services. 

Indian National Space Promotion and Authorisation Center (IN-SPACe)

• The space sector was opened up to promote, hand-hold, regulate and authorise private enterprises and startups to undertake space activities by creation of the Indian National Space Promotion and Authorisation Center (IN-SPACe) in June 2020.

• It is an independent nodal agency under the department of space to promote private investment and innovation in the space sector. 

• It will facilitate and support the private sector and help participate in building satellites, launch-vehicles, carry out launches, develop applications and provide space based services. 

• This will enhance the diffusion of space technology and boost space economy within the country.

IN-SPACe will permit and oversee the following activities of private enterprises and startups:

• Space activities including building of launch vehicles and satellites and providing space based services as per the definition of space activities.

• Sharing of space infrastructure and premises under the control of ISRO with due considerations to on-going activities.

• Establishment of temporary facilities within premises under ISRO control based on safety norms and feasibility assessment.

• Establishment of new space infrastructure and facilities, by Non-Government Private Entities (NGPEs), in pursuance of space activities based on safety norms and other statutory guidelines and necessary clearances.

• Drawing up integrated launch manifest based on priorities and readiness level for ISRO, NewSpace India Limited (NSIL) & NGPE.

• Initiation of launch campaign and launch, based on readiness of launch vehicle and spacecraft systems, ground and user segment.

• Registration and maintenance of space objects in national registry.

• Usage of spacecraft data and rolling out of space based services and all the associated infrastructure for the same.

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