India opens space sector for private players

Union Finance Minister Nirmala Sitharaman on Saturday announced giving the private sector a role in India's space programme, including in satellites, launches and space-based services. "Indian private sector will be a co-traveller in India's space activities," she said.

For boosting private participation in space activities, the government will provide a level playing field for private companies in satellites, launches and space-based services.

Also, the government will provide a predictable policy and regulatory environment to private players, she said while announcing the fourth tranche of the economic stimulus package. The private sector will be allowed to use ISRO facilities and other relevant assets to improve their capacities.

Future projects for planetary exploration and outer space travel would be open for the private sector, she said, adding liberal geospatial data policy will provide remote sensing data to tech-entrepreneurs.

In her fourth press conference in as many days, she said the focus of the fourth stimulus would be coal, minerals, defence production, civil aviation sector, power distribution companies in Union Territories, space sector and atomic energy sector. She said steps taken during the recent past include fast track investment clearance through an empowered group of secretaries. Project development cell has been set up in each ministry to prepare investable projects and coordinate with investors and central/state government.

States are being ranked on investment attractiveness to compete for new investments, she said adding incentive schemes for the promotion of new champion sectors will be launched in sectors such as solar PV manufacturing and advanced cell battery storage. As many as 3,376 industrial parts/estates/SEZs in 5 lakh hectares have been mapped on Industrial Information System (IIS). All industrial parks will be ranked in 2020-21, she said.