India's Space Regulation Takes Off: A New Era for Private Ventures

The Indian government is carefully examining the draft Space Activities Bill, the first of its kind for the country's space sector. This legislation aims to regulate and promote space activities, particularly among private entities. Additionally, a significant venture capital fund has been established to stimulate growth and international competitiveness.

The Indian government is meticulously scrutinizing the draft Space Activities Bill, marking a pivotal moment for the country's space industry. As the maiden bill for the sector, it is undergoing comprehensive review before being introduced, according to Union Minister of State Jitendra Singh's statement to the Lok Sabha.

First discussed in 2017, the bill seeks to create a legal framework to regulate and foster space activities, especially for private enterprises. Under the purview of Singh's oversight of the Department of Space, the Indian National Space Promotion and Authorization Center (IN-SPACe) has endorsed a venture capital initiative.

This initiative, with Ms SIDBI Venture Capital Limited as the investment manager, aims to address the lack of risk capital in this high-tech domain. Announced in the Union Budget of the previous year, the Rs 1,000 crore fund is tailored to support private companies in the challenging and rewarding space technology sector.

(With inputs from agencies.)