"It will directly encourage the creation of a whole new system of satellite
players in India. Now the field is level and the Indian satellite industry will boom, encouraging the entire space ecosystem," added Srinath Ravichandran, one of the founders of small rocket maker Agnikul Cosmos, which builds small vehicle to launch small satellites.
It may be noted, in a bid to increase private sector participation the Government announced a series of new reforms including In-SPACe (Indian National Space Promotion and Authorisation Centre) will be the single window nodal agency for enabling and regulating space activities and usage of Isro
facilities by the private sector.
The New Space India Ltd (NSIL) was set up in March 2019 to handle the commercial activities of Isro.
It will obtain licence from DoS and Isro
for Small Satellite Launch
Vehicle (SSLV), which will lift satellites upto 500 kgs to in Low Earth Orbit (LEO), technology and transfer it to the industry through sub-licencing. It will provide launch services for customer satellites, will manufacture small SSLVs in collaboration with private sector, production and marketing of space-based services among others.
PwC's report tiled 'Preparing to Scale New Heights: Privatisation of India's Space Sector', says the sector can become a $50 billion industry, which would be around one per cent of India's projected $5 trillion economy, by 2024 from the current $7 billion.
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