Image Credit: ISRO
India Finalizes Space Bill to Boost $44 Billion Space Economy
India is set to unlock the next phase of its space revolution with the finalization of the Space Activities Bill, which aims to empower the private sector, strengthen regulatory oversight, and boost India’s space economy to $44 billion by 2033. The bill represents a foundational shift in space governance, marking India’s transition from a government-led model to a mixed ecosystem led by innovation and commercial enterprise.
IN-SPACe to Become Statutory Regulator
One of the bill’s primary objectives is to give legal authority to the Indian National Space Promotion and Authorization Centre (IN-SPACe), currently operating as an administrative arm without legislative backing. Once enacted, the Space Bill will provide IN-SPACe the statutory powers to regulate and authorize private space activities in India.
The move is expected to streamline clearances, bring transparency to the regulatory process, and enhance investor confidence by offering a defined legal pathway for startups and companies interested in space-based ventures, including satellite launches, payload development, and mission planning.
Enabling Private Sector Entry and Insurance Access
A core feature of the legislation is its explicit support for private participation in India’s expanding space sector. The bill will allow private entities to:
- Secure launch authorizations and mission clearances
- Access orbital slots and spectrum
- Obtain government-backed insurance support for satellite and rocket missions
This initiative addresses one of the key bottlenecks in the private space ecosystem—financial risk mitigation. With affordable insurance options and legal clarity, domestic space startups can now scale operations with less regulatory ambiguity.
Compliance with International Space Laws
India’s obligations under global treaties such as the Outer Space Treaty, the Liability Convention, and the Registration Convention necessitate proper oversight of all space activities conducted within its jurisdiction. The bill will help formalize India’s legal responsibility for both public and private space missions, ensuring compliance with global standards and responsible conduct in outer space.
By establishing a statutory authority to oversee licensing and compliance, the bill aligns India’s legal structure with that of other spacefaring nations, fostering international trust and cooperation.
Targeting $44 Billion Space Economy by 2033
India’s current space economy stands at approximately $8.4 billion, with the government now targeting a nearly fivefold increase. The new roadmap aims to:
- Expand the domestic satellite manufacturing and launch service industry
- Capture $11 billion in global exports by 2033
- Achieve an 8% share in the global space economy
This growth strategy will depend heavily on successful private-public collaboration, underpinned by the Space Bill’s legal infrastructure.
