Prime Minister Narendra Modi on Friday said the government would soon bring a new policy to encourage Ease of Doing Business in the space sector, ANI reported. Addressing a gathering after inaugurating the headquarters of the Indian Space Promotion and Authorisation Centre (IN-SPACe) in Ahmedabad, PM Modi the government had initiated reforms in the space sector and opened it up for private sector.
"Soon we will bring a new policy to encourage Ease of Doing Business in the space sector. We have initiated reforms in space sector and opened it up for private sector," PM Modi said.
IN-SPACe has been set up to promote private investment and innovation in the space sector. "I am hopeful that like in the IT sector, our industry will also take the lead in the global space sector," PM Modi further said.
PM Modi assured the private sector that reforms in the space sector would continue unabated. "We have talent and experience but private partnership in this industry is only 2%, we have to increase our share in the global space industry with a key role for private sector. In the coming time, I see a great role for India in Space Tourism and Space Diplomacy," ANI quoted PM Modi as saying.
"By bringing reforms in space sector through INSPACe, we're starting the movement to produce winners. Private sector will not only be a vendor but will also play the role of big winners in space sector. Even sky is not the limit for this coming together of private and government sector," he said.
PM Modi also said that space technology would bring in a big revolution in the world in the 21st century.
"For alerting about an exciting post, youth nowadays write 'Watch This Space'. For India's space industry too, the launch of INSPACe is 'Watch This Space' moment. It will give opportunities to the best scientific minds working in govt or private sector," the prime minister said.