The Indian Space Association (ISpA) was launched by Prime Minister Narendra Modi on October 10, 2021. The founding members of ISpA are Indian Space Research Organisation (ISRO), OneWeb, Bharti Airtel, NELCO of TATA Group, and many others.
The Indian Space Asociation is a private industrial body. It is mainly represented by the home grown and global companies that possess advanced capabilities in the space technology.
It will help to boost space technology in India. The main objective of ISpA is to create space economic hubs and incubators.
It will aspire to become the voice of the space sector. It will work with GoI and its agencies and make India self-reliant in space sector.
It will work to achieve the space reforms of the Indian Government. The four pillars of space reforms of GoI are as follows:
- To see space sector as a resource
- To make the youth future-ready
- Freedom to private sector
- Role of Government as an enabler
In 2019, India accounted only 2% to the global space industry, that is, 7 billion USD. The global space industry is estimated to be 350 billion USD and is to exceed 550 billion USD by 2025.