ISRO chief K Sivan on Thursday stated that opening the space sector for private enterprises will help scale up benefits from space technology and enable Indian industry to be an important player in the global space economy.
"If the space sector is opened (for private enterprises), the potential of the entire country can be utilised to scale up benefits from space technology. It will not only result in the accelerated growth of the sector but also enable Indian industry to be an important player in the global space economy," the Indian Space Research Orgsation chief said.
Sivan said that far-reaching reforms in space technology in India will put the country in the league of the select countries.
"As part of longer socio-economic reform, space reforms will improve access to space-based services for India's development. Far-reaching reforms will put India in the league of few countries with efficient promotional and authorisation mechsm for private-sector space activities," he said.
Talking about reforms that the government is planning to implement in the country's space sector, he said, "Space sector, where India is among a handful of countries with advanced space technology, can play a significant role in boosting the industrial base of India."
"The government's decision is to implement reform measures to leverage ISRO's achievement by opening the space sector for private enterprises," he added.
He further said that "Department of Space will promote sector space activities to enable it to provide end to end space services, including building and launching of rockets and satellites as well as providing space-based services on a commercial basis."
"With this, there is an opportunity for large scale employment in the technology sector and India becoming a global technology powerhouse," ISRO chief added.
Sivan also talked about the government's decision to establish an autonomous nodal agency for taking independent decisions for regulating the activities of private compes.
"Government has approved the establishment of an autonomous nodal agency - Indian National Space, Promotion and Authorisation Centre - for taking independent decisions with respect to permitting and regulating the activities of private compes in the space sector," said ISRO chief.
"It will act as a national nodal agency for handholding and promoting the private sector in space endeavours and for this ISRO will share its technical expertise as well as facilities," he added.
( With inputs from ANI )