The union government on Wednesday announced a new body named the Indian National Space Promotion and Authorization Centre (IN-SPACE) to promote space programmes for private sector participation.

It will supplement the Indian Space Research Organisation (ISRO) and New Space India Ltd (NSIL), union minister Jitendra Singh said during a press conference, adding that IN-SPACE will look at private space entrepreneurs.

The union cabinet has also approved reforms to enhance "socio-economic use" of space assets and activities, which will include access to space assets, data and facilities, Singh said.

“We will provide level playing field for private sector, with the endeavour to reorient space activities to a demand-driven model,” added Singh.

Finance minister Nirmala Sitharaman had in May announced that the government was working to provide a regulatory environment to allow private sector to use ISRO facilities, including opening up future projects to the private sector. She also said that the government will ease geo-spatial data policy to make remote-sensing data more widely available to tech entrepreneurs.

“Even students are creating satellites and they want facilities, which have not been available in India. This will also stop brain drain,” Singh during the press conference announcing the move.

He added: "ISRO can focus on R&D while IN-SPACE will take care of private participation.”