Private entities can now own imaging satellites: ISRO

"Government wants to reform the space sector. Space Policy 2022 has been prepared in which we allow private entities to own and operate satellites.

Coimbatore: Under the Space Policy 2022, Imaging satellites will now be owned by private entities unlike before, when they were owned only by ISRO and Defence, said Indian Space Research Organisation (ISRO) Chairman Dr S Somanath on Saturday while speaking at the Karunya University on the occasion of its 26th convocation ceremony.

The ceremony was presided over by University Chancellor Paul Dhinakaran. Dr Somanath who was the chief guest at the event awarded degrees to 1,700 graduates. Dr Somanath also paid a visit to the laboratories at the university campus.

Dr Somanath further informed that the small satellite launch vehicle (SSLV) will be launched by month's end or at the beginning of August. While talking to the media he said, "Government wants to reform the space sector. Space Policy 2022 has been prepared in which we allow private entities to own and operate satellites. So far, imaging satellites are only owned by ISRO and Defence but now Private entities can also own them."

"With regard to investment, it will be 100 per cent for Indian companies. FDI will be regulated and government permission is required if it's over 70 per cent, he stated. Private entities can own, develop and launch rockets also. They can build a launch pad also," he added.

Our goal is to create new avenues in the space sector. "There are many missions planned for this year. We will launch a recently developed small satellite launch vehicle (SSLV) by this month-end or at the beginning of August... Test and trials are on for the Gaganyaan program," he added. Dr Somanath also informed that Agniveers who complete four years of training in the armed forces as part of the Agnipath scheme will be given employment in ISRO.