Hyderabad, June 25: ISRO chief K Sivan on Thursday announced that the Government of India has decided to open up the space sector to private enterprises. According to an ANI update, elaborating on this, he said "If the space sector is opened(for private enterprises), the potential of the entire country can be utilised to scale up benefits from space technology. It'll not only result in the accelerated growth of the sector but also enable Indian industry to be an important player in the global space economy."

He further said the Department of Space will promote sector space activities to enable it to provide end to end space services, including building and launching of rockets and satellites as well as providing space-based services on a commercial basis. Private Sector Will be Allowed to Use ISRO Facilities to Improve Their Capacities, Says Union Minister Jitendra Singh.

Government Has Approved the Establishment of an Autonomous Nodal Agency, Says ISRO Chief

The ISRO chief also spoke about how this will bring an opportunity for large scale employment in the technology sector and India becoming a global technology powerhouse.

He also added that the Government has approved the establishment of an autonomous nodal agency - Indian National Space, Promotion & Authorisation Centre - for taking independent decisions with respect to permitting and regulating the activities of private companies in the space sector.

This agency according to Sivan will act as a national nodal agency for handholding and promoting the private sector in space endeavours. "For this ISRO will share its technical expertise as well as facilities," said Sivan.

(The above story first appeared on LatestLY on Jun 25, 2020 11:37 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).