In the current fiscal year, months before the pandemic took place Government had already committed to move towards privatization by disinvestment of Rs 2.1 lakh crore via privatization of PSUs, and Rs1.2 lakh crore via privatization of CPSEs. Generally speaking privately is a way to transform the relationship between the state and the private sector to increase the role of the private sector in the functioning of the national economy. Accordingly, privatization broadly means any process that undermines the governing role of the state to own and operate the nation's economic activities.
Recently the Indian Government decided to allow private sector companies to be part of the country’s space program, which included satellites, launches and space based various other services. This decision was taken as a part of structural reform to rebuild and boost the economy. As per Government, the move has been taken to free up Indian Space Research Organisation (ISRO), so that the focus can be mainly on the Research and Development department while the private players can concentrate on operations and space activities like launching weather and communication satellites, to expand India’s space explorations. A new organization named Indian National Space Promotion and Authorization Centre (In-SPACe) to help the participation of private sector in space activity and facilitate easy use of space infrastructure.
Until now the private sector was restricted to the manufacturing and fabrication of the rockets and satellites. Currently, sectors ranging from Agriculture to Transport, or weather department to even urban development, are in need of satellite data and imageries to draw future strategies and grow business. ISRO would have to increase the present size by 10 times to meet the growing need. Right now, a lot of ISRO’s resources are being used for routine activities leading to delay in the core operations. The initiative is a move towards making Indian self-reliant and resilient. Privatization of this sector will enable the potential of entire country to be combined and used for the betterment of economy as a whole. Its not just the acceleration of the sector but also make India an important player in the global space industry.