Bharat’s space economy is on track to reach the $44
billion-mark in 2033, and the nation’s share in the global space economy can
expand to 8 per cent by then, said Indian National Space Promotion and
Authorisation Centre (IN-SPACe) Chairman Pawan Goenka.
Presently, Bharat’s share in the global space economy
is at 2 per cent, and the size of Indian space economy is estimated at $8
billion, Goenka explained, while briefing reporters in Bengaluru.
“As we unveil the decadal vision for the Indian Space
Economy, we emphasise that the future of the Indian space sector is a shared
endeavour. Hence, our strategy fosters an era of collaboration between all
stakeholders to accelerate growth,” he further said.
The initiatives taken by IN-SPACe to encourage the
participation of private sector, along with the Indian Space Research
Organisation (ISRO) paving the way for private players in space, will strengthen
the space economy and in-turn aid in the vision of self-reliant India, Goenka
reportedly added.
“The objective of IN-SPACe is two-fold, one is to be
the regulator and the authorizer of the space industry which means any activity
that happens in terms of a launch in orbit will be authorised by IN-SPACe to
ensure that it does not compromise the safety and security aspect of the
spacecraft or launch vehicle. The second role is about promoting the private
sector to play a much bigger role in IN-SPACe,” said the official.
“The four wheels of IN-SPACe are promoter, enabler,
authorizer and supervisor. For the private sector, we have started short-term
courses for skill development. For them ISRO technologies are available. They
can also use ISRO’s lab facilities,” said IN-SPACe Director for Promotions
Vinod Kumar.
ANI/PTI
