Friday , 23 October 2020
Breaking News
Indian Space Promotion and Authorisation Centre (IN-SPACe) to promote private investment and innovation in the space sector: Dr Jitendra Singh

Indian Space Promotion and Authorisation Centre (IN-SPACe) to promote private investment and innovation in the space sector: Dr Jitendra Singh

The Union Minister of State (Independent Charge), Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said in a written reply to Rajya Sabha that the Government has launched the Indian Space Promotion and Authorisation Centre (IN-SPACe) to promote private investment and innovation in the space sector.

IN-SPACe will facilitate and support the Private Sector in the following ways:

  1. Provide technical support
  2. Share cash intensive facilities
  3. Allow to establish temporary facilities in DOS premises
  4. Allow to bid for requirements coming from NSIL
  5. Partner in science and space exploration missions

IN-SPACe is the Institutional and Regulatory mechanism established by Government to facilitate greater private participation. Financial provisions are not covered under this mechanism.

Private players can participate in:

  1. Building satellites
  2. Building launch vehicles
  3. Carry out launches
  4. Develop Applications & provide space based services
  5. Develop subsystem and systems for space sector activities