It's time for the private sector to go to space baby!
Yesterday, Prime Minister Modi launched the Indian Space Association (ISpA).
What's Happening Here?
Currently, almost all of the space-related initiatives undertaken in India have the govt (through ISRO) as a central player.
With interest in space tech booming globally (thanks SpaceX, BlueOrigin) some of our private sector players have also taken interest in India's space domain.
ISpA will now act as an independent and “single-window” agency that will help open up space for the private sector.
ISpA’s founding member companies include OneWeb, Bharti Airtel, Mapmyindia and several others.
What's Been Proposed?
Major reforms to the space sector will take place soon.
The exact reforms haven't been announced but the PM promised 4 things that ISpA will aim to help with:
- The freedom to innovate in the private sector.
- The govt will act as an enabler for the private sector vs driving innovation solely.
- Help prepare the next generation for the future of the space industry.
- Ensuring the space sector is used as a common resource for the progress of humanity.
ISpA will be focussed on capacity building and creation of space hubs as well as incubators in the country for private space start-ups
Why this is important?
Innovation in space is seen as the next frontier that can help take India forward. Already space-based communication networks are thought of as a potential solution for truly global connectivity, and by opening things up for the private sector we can expect things to accelerate.
Space-based communication networks help in expanding internet access to most rural areas as well. Kind of like SpaceX is doing through Starlink.
We have already seen the likes of SpaceX and Blue Origin innovating in the US, we definitely think our Indian startups/private sector can definitely do similar if not better.