India has successfully demonstrated its space prowess for a while now. However, the Indian Space Research Organisation (ISRO) has monopolized this sector for a very long time. For India to become a global space power, it is essential to bring in the private players on board for a higher success rate.
Currently, the new start-ups are emerging in the space sector for undertaking ambitious projects like launching palm-sized satellites and propulsion of satellites using cleaner fuels. With the promise of high returns of the investment in this sector, there is an increased inflow of investments into these start-ups.
For the success of these new companies, it is essential for the Indian Government to provide a law that assures ease of doing business and faster promotion of these aspiring projects. The Space Activities Bill, 2017 is a major leap forward in this direction.