ISRO Bets Big On Private Sector Over Indian Space Fortune

-
ISRO Chairman K Sivan, in a press briefing on Thursday, June 25, made an announcement of opening up of India's space sector to private players.



“We have received requests for all the sectors. Launch vehicle sector, satellite sectors, applications sector, all the sectors people are interested in taking part. And I am sure they will be able to make use of the new system that we are proposing.” said Sivan.

Earlier, during his press briefing, Sivan had elaborated that private sector can “play a larger role than being just a supplier of parts and components.”He had stated that the Department of Space will promote private sector space activities “to enable it to provide end-to-end space services like building and launching of rockets and satellites as well as providing space-based services on commercial basis.”

India's contribution to Global Space Economy is only 3% . The 'unlocking' of space sector to private sector companies and researchers will help scale up benefits to space technology. And this will enable Indian industry to be an important player in the global space economy, Sivan remarked. 


"The Covid-19 outbreak has definitely impacted our activities, which are mostly dependent on the 500 industries spread across the country. The lockdown has had an impact on that and thereby our, missions like Gaganyaan and Chandrayaan-3 also has impacted; all industries have not yet started functioning", said ISRO chairperson Dr K Sivan. 

With private sector participation, India's contribution will increase significantly. Not that ISRO is privatizing for the first time. It already has tie ups with around 150 private companies. To put in perspective, the NASA engages with more than 375 space companies. But this time India has possibly taken its first big step in a direction with the central government setting up New Space India Limited (NSIL) earlier and now IN-SPACe (Indian National Space Promotion and Authorization Centre).

NSIL will look after both the mass production and marketing of space-based products and services of ISRO. It will also launch an application developed by the organizations’ centers and other units of the Department of Space. Whereas, IN-SPACe will be the nodal body under the Department of Space that will drive the participation of private sector in space operations with ISRO. IN-SPACe will work on the mechanism for ISRO's engagement with industries and to meet demands of the private sector in space programs.


Existing SATCOM and Remote Sensing Policies need modification. Finance minister Nirmala Sitharaman announced Union budget in May 2019 in which Geospatial Data Policy specifies the predictable policy and regulatory environment to private players.

"ISRO will soon be having an industry meet in a fortnight to tell private companies about mechanism and strategies. The full-fledged system will be functional within 6 months. Private players can start approaching now." the chief declared.

At present, the ISRO undertakes two to three major satellite launches a year. Dr. Sivathanu Pillai, a former chief controller of DRDO, recommended a greater role for private sector for using ISRO facilities for satellite launch taking the number of annual launches to 15. More engagement of private sector means more funds for ISRO to do its basic work of space research and exploration.
   
Published by
Shamli Deshmukh | World Uncensored.

Follow us on Instagram
Subscribe our Youtube Channel.
Write us to worlduncensored1@gmail.com.

Comments

Post a Comment

Popular posts from this blog

Nepal to Send Revised Controversial Map to India, UN & International Community

-
Image
The government of Nepal plans to send its recently revised map to the international community, Google and India, said a minister. Indian territories of Kalapani, Limpiyadhura, and Lipulekh will be included in the revised map, the minister added. “We are soon delivering the revised map incorporating Kalapani, LipuLekh and Limpiyadhura to the international community,” said Minister for Land Management, Padma Aryal. The map was passed by 258 votes in the country’s 275-seat parliament. The ministry has even asked the department of measurement to print 4,000 copies of the updated version of Nepal’s map. This will be in the English language so as to send it to the international community. Up to 25,000 copies have been printed by the department and are also distributed around the nation. People can buy the newly revised map for Nepali Rs 50 and provincial and all other public offices will be given copies free of cost.She added that the map will have been delivered by the end of Nepali m...
Read more

A step towards future: India becomes a founding member of GPAI

-
Image
There’s no doubt AI is one of the critical technologies of this era. The development of AI has the potential to fundamentally transform civilian and military life in the coming decades. Consequently, AI will be a driver and structural force reshaping the global order. A group of countries have founded Global Partnership on Artificial Intelligence (GPAI) named body which is intended to give rise to "responsible and human-centric" development and use of Artificial Intelligence (AI). GPAI is initiated by France and Canada in May 2020 including Australia, Germany, Italy, Japan, Mexico, New Zealand, the Republic of Korea, Singapore, Slovenia, the United States, and the European Union. India, as a founding member has also joined GPAI in June 2020.    This is a first initiative of its type for evolving better understanding of the challenges and opportunities around AI using the experience and diversity of participating countries. According to the joint statement , GPAI will bring ...
Read more

Bloomberg Rich List Update: Mukesh Ambani Surpasses Warren Buffett

-
Image
Asia's richest tycoon Mukesh Ambani surpassed Warren Buffet; becomes the 8th richest person on the planet. According to the Bloomberg Billionaires Index, the " Oracle of Omaha " with wealth worth $69.7 Billion held eighth position. After giving away $2.9 billion to charity, he now slides down to the 9th rank with a net worth of $67.8 Billion. Whereas, Ambani’s oil-to-telecom giant, Reliance Industries, raised more than $22 Billion in just 58 days and amassing a $68.4 Billion fortune, amid a strict nationwide lock-down in India. Ambani's fortunes grew this year on account of a 40 per cent jump in shares of RIL , reported Bloomberg. The sale of a 49% stake in its fuel retail network to BP last summer, have helped the company become net debt-free, it said. It is worth mentioning that the rally in stock is more than double of what India's benchmark S&P BSE Sensex gained during the period. RIL has added ₹1.75 trillion (around $23B) to its market capitalization...
Read more