On April 20 this year, the Indian Space Research Organisation (ISRO) released the Indian Space Policy 2023 that had been in the works for some years. The document has been received positively by industry. However, it needs to be followed up with suitable legislation, accompanied by clear rules and regulations. Just preceding this, this writer wrote the article, “Awaiting lift-off into the Second Space Age” (April 10, 2023), which said that India’s modest entry into the First Space Age followed by its many gains should be used to help the country tap the vast potential in the Second Space Age.
Until the early 1990s, India’s space industry and space economy were defined by ISRO. Private sector involvement was limited to building to ISRO designs and specifications. The Second Space Age began with the licensing of private TV channels, the explosive growth of the Internet, mobile telephony, and the emergence of the smartphone. Today, while ISRO’s budget is approximately $1.6 billion, India’s space economy is over $9.6 billion. Broadband, OTT and 5G promise a double-digit annual growth in satellite-based services. It is estimated that with an enabling environment, the Indian space industry could grow to $60 billion by 2030, directly creating more than two lakh jobs.
Yet, it is the enabling policy environment that has proved elusive. The first satellite communication policy was introduced in 1997, with guidelines for foreign direct investment (FDI) in the satellite industry that were further liberalised but never generated much enthusiasm. Today, more than half the transponders beaming TV signals into Indian homes are hosted on foreign satellites, resulting in an annual outflow of over half a billion dollars.
