The department of Space and ISRO on Friday announced that as part of its newly drafted National Space Transportation Policy, India will allow domestic private companies to set and operate their own launch sites and pads. This reform will also allow Indian firms to get an exposure in the global launch space market. The private companies will be given access to space sector, scientific and technological resources and even data for their space programmes.

This will allow private players to improve their competencies and will give them level playing field in satellites, launches and space based services. They will be able to build launch pads and to lease out the launch pads. They can also tie up with ISRO for further programmes in the space transportation.

Last year, the union government had approved the Indian National Space Promotion and Authorization Centre (IN-SPACE) which allowed private companies in the country’s space programmes. The programme was meant to guide and promote the private companies in their space activities after assessing their demands.

The global space industry has grown to a whopping $350 billion market with many private players entering the sector. Reports suggest that more than 2500 small satellities will be launched in the space by 2022.