The Union Cabinet on Thursday approved the Indian Space Policy 2023, which aims to boost the country's space department's role and give a larger participation to research, academia, start-ups, and industry.

The policy lays down the roles and responsibilities of organizations such as the Indian Space Research Organisation (ISRO), and private sector entities.

During a cabinet briefing, Minister for State for Science and Technology Jitendra Singh said that the policy would enhance the role of India's space department, boost research, academia, start-ups, and industry.

“Industry will be feeling emboldened and enabled to have a larger participation due to the Indian Space Policy 2023," said Union Minister Dr Jitendra Singh.

The opening up of the space sector for private participation, which was initiated by Prime Minister Narendra Modi, has led to the growth of start-ups in ISRO, with the number reaching 150 within three years.

The policy is expected to offer clarity on the roles of the components set up in recent past and enable the industry to have a larger participation.

“PM Modi took a decision to open the space sector for private participation. Today because of this within 3 years, the number of startups has reached 150 in ISRO .Today Cabinet has approved Indian Space Policy 2023 which in brief would offer clarity to the role of each of these other components which have been set up to enhance the role of the space dept, to give a boost to the ISRO missions," he added.

The Indian Space Policy 2023 is expected to provide a boost to the country's space missions and enhance the role of the Department of Space. It is also expected to provide a framework for the country's space sector for the next decade.

India has been making significant progress in the field of space exploration in recent years, with the successful launch of the Chandrayaan-2 mission and the development of the Gaganyaan mission, which aims to send astronauts to space by 2022. The country has also been working on developing its own satellite navigation system, the Indian Regional Navigation Satellite System (IRNSS), which is expected to provide precise positioning services over India and its neighbouring regions.