New Delhi:With the opening of the country’s space sector for private players, India can increase its market share in space commerce to one-fourth of the global commercial space market in the next 25 years, said Jayant Patil, Chairman Indian Space Association (ISpA), the Space and Satellite industry body. In an exclusive interaction with ETV Bharat, the defense and aerospace industry veteran said the country requires enabling policies backed by an act of Parliament to realise the space and satellite industry’s true potential.
Talking about the commercial space sector, Patil said the entire value of space commerce was estimated at $7 billion which is just 2 per cent of the global market because the sector was government controlled. Patil said: “Today, when we look at where we can take ourselves from the present market share of 2%, then a lot depends on the policy framework that would be formulated.”
“We at ISpA have conducted an analysis. If we make a strategic plan for 2047, then we think that we can bring 25 per cent of the global space commerce here in India. We will have to do a lot of work to achieve that goal. For this, we need to support our startups, including those startups with crazy ideas. It requires an enabling environment and enabling policies,” Patil told ETV Bharat.
Jayant Patil, who is also whole-time director and senior vice president of Larsen & Toubro, says that the space policy should cater to different segments of the space sector and it should also have legal backing by an act of Parliament. According to Patil, the policy was expected around six months ago but the space industry hopes that the policy may be announced by March.
The space policy which was formulated after consultation with stakeholders is under consideration by the government and is awaiting approval by the cabinet, he said. “I hope the space policy should be out by March while an act of Parliament would require some more time. We hope that an enabling legislation may be put in place by the monsoon session,” said the ISpA Chairman.
Patil clarified that enabling legislation was still at the drafting stage and it has not been put in the public domain while the draft space sector policy was discussed with the involved stakeholders. “All these things are in the pipeline. It was supposed to be completed in 2021, in any case by the middle of 2022, but it is still in the pipeline,” he said.
Space sector will be divided in 3 segments
Patil said when the space policy was under discussion, it was decided by the government that the space sector will be bifurcated and scientific research and advancement will be handled by the ISRO while space launches will be done by New Space India (NSIL), a public sector undertaking. At the time of opening the space industry for the private sector, the ISpA was created to facilitate the private sector and startups in the space sector.
Booming space startups
Jayant Patil said with the opening of the space industry for the private sector, a lot of startups are coming into the space industry. “Four five years ago, there were only 4-5 startups in the space sector. But with the opening of the space sector for private players, today there are 105 startups in the space sector,” said Patil. He, however, clarified that Indian startups in the space sector are in their infancy.