‘Expect space bills, FDI rules by 2022’: ISPA DG

ISpA was established in October 2021 by Prime Minister Narendra Modi, and is an industry body representing private space and satellite companies in India.

Bhatt said the upcoming Space Regulatory Bill is expected to clearly define the scope of foreign direct investment (FDI) in the Indian space sector, with the Indian Space Research Organization (ISRO) playing a role with Indian startups.

“Space Communication Policy, Remote Sensing Policy and Technology Transfer Policy are three for which discussions have taken place between the Indian National Center for Space Promotion and Authorization (in Space), Department of Space and private companies. These policies are still in an advanced stage of consideration with the government,” Bhatt said.

In December 2021, Pawan Kumar Chandana, chief executive of Indian space startup Skyroute Aerospace, told Mint that most of the regulations coming in the space sector are expected to define the role of private companies. These include space communications and other aspects defined by the policies outlined by Bhatt, as well as aspects such as manned spaceflight.

However, industry stakeholders have maintained that participation of private companies in the space sector is unlikely in the near future, as the latter is a highly resource-intensive sector. Bhatt accepted the challenge and said that this is one of the key areas where space can be a facility. Another factor that could enable private companies to get their hands on avenues for greater financing is foreign direct investment (FDI).

“We also expect the draft Space Activity Bill to be passed by Parliament very soon. These are the policy enablers for the Indian private space industry that we expect to see this year. The final industry talks have taken place, and Final discussions are now taking place with the Department of Space and the Indian Space Commission,” Bhatt said.

The year 2022 is going to be a big year for private Indian space missions. Private startups like Agnikul Cosmos, Skyroot Aerospace, Pixel and Dhruv Space are expected to launch their respective missions this year. On the other hand, ISRO is expected to conduct the first launch under Gaganyaan – the last manned space mission from India. However, despite these launches, India is still at an early stage in the race for private space, far behind other countries.

“It took about 10 to 14 years for a company like SpaceX to reach today. Even for Indian startups, it will take some time, though they may take less time than SpaceX – because the industry has matured of late,” Bhatt he said.