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01/12/2021 - S & T

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December 01, 2021

With Indian Space Research Organization being the guiding body, India can now evolve as a space start-up hub for the world. Analyse (200 Words)

Refer - The Hindu

Enrich the answer from other sources, if the question demands.

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IAS Parliament 2 years

KEY POINTS

·        According to a report, the Government of India created a new organisation known as IN-SPACe (Indian National Space Promotion and Authorisation Centre) which is a “single window nodal agency” established to boost the commercialisation of Indian space activities.

·        Today, the space economy is a $440 billion global sector, with India having less than 2% share in the sector.

·        Another aspect to throw light on is the extensive brain drain in India, which has increased by 85% since 2005.

·        The laws need to be broken down into multiple sections, each to address specific parts of the value chain and in accordance with the Outer Space Treaty.

·        Another crucial aspect of space law is insurance and indemnification clarity, particularly about who or which entity undertakes the liability in case of a mishap.

·        In several western countries with an evolved private space industry, there is a cap on liability and the financial damages that need to be paid.

·        The sector is in the embryonic stage where the possibilities are limitless with a scope to build a feasible business model.

K.JEEVAN 2 years

Please review and give your valuable suggestions

IAS Parliament 2 years

Try to bring coherence in the answer and include about IN-SPACe, NSIL. KEep Writing.

K. V. A 2 years

Kindly review

IAS Parliament 2 years

Try to include about NSIL, IN- SPACe. Keep Writing.

Susmitha T 2 years

Please review 

IAS Parliament 2 years

Try to cutshort the conclusion part. Keep Writing.

IAS Parliament 2 years

Try to include about In-SPAce. Keep Writing.

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