Abstract

India easily ranks among the top 6 space faring nations of the world, both in terms of technological capabilities and allocated budget. However, despite being one of the world's most accomplished space programs, India's space sector accounts for a minuscule 2% of the $440 billion global industry.1 The reason for this is not the lack of talent, ambition, or enterprise, but the stifling regulatory environment thus far, excessive government control, lack of funds, regressive space policy, where companies are expected to serve the Indian Space Research Organisation's needs, but not be empowered enough through a supportive financial and regulatory ecosystem to go out and compete in the international space market. This will likely change for the better, or so the NewSpace players in India hope, in the years ahead. Here is why. In 2020, the Government of India instituted the Indian National Space Promotion and Authorization Centre or IN-SPACe. IN-SPACe is a nodal agency under the Department of Space (DOS) for allowing space activities and usage of DOS-owned facilities by nongovernment private entities as well as to prioritize the launch manifest. IN-SPACe is that long-awaited proverbial “small step” with the potential of becoming India's “big leap” into the international league of developed space economies such as the United States and Europe, provided its detailing and implementation are done in a liberal, progressive, and far-sighted manner. This article will attempt to capture the evolving NewSpace India landscape historically, technologically, and hopefully through personal experiences of early and recent NewSpace players. It will also take a critical look at the implementation of IN-SPACe since its launch mid-2020 and provide recommendations for its future implementation. The article will also highlight some of the best practices from the American, European, and Chinese NewSpace ecosystems that the Indian one can embrace if it is to successfully compete with its international counterparts.

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