Central Idea

India needs an enabling policy and regulatory environment to tap into the potential of the Second Space Age and its rapidly growing space economy.

What is mean by the Second Space Age?

Commercialization: The Second Space Age refers to the recent era of increased commercialization and private sector involvement in space exploration, which began in the early 2000s.
Emergence of private space companies: This period has been marked by the emergence of private space companies like SpaceX, Blue Origin, and Virgin Galactic, who are investing heavily in space technology and infrastructure.
Today’s space domain has many more actors once dominated by US and USSR: Compared to the First Space Age dominated by the US and the USSR, today’s space domain has many more actors, with a majority being private companies. Private companies account for 90% of global space launches since 2020, and India is no exception
Increasing involvement of non-spacefaring nations: The Second Space Age is also characterized by the increasing involvement of non-spacefaring nations in space exploration and the development of technologies that enable greater access to space for both commercial and scientific purposes.
Exploration: The hope is that this new era will lead to breakthroughs in areas like space tourism, asteroid mining, and Mars colonization, among others.

India’s journey in space began modestly in the 1960s.
Societal objectives: Over the decades, the Indian Space Research Organisation (ISRO) prioritized societal objectives and benefits, such as developing satellite technology for mass communication, remote sensing for weather forecasting, resource mapping of forests, agricultural yields, groundwater and watersheds, fisheries and urban management, and satellite-aided navigation.
Enhanced launch capabilities: ISRO also developed satellite launch capabilities, beginning with the SLV-1 in the 1980s, followed by the PSLV series, which has become its workhorse with over 50 successful launches.

Facts for prelims

Steps taken to promote the space industry in India	Resulting Outcome
Creation of Indian Space Research Organisation (ISRO) in 1969	Establishment of a strong foundation for space research and exploration in India
Launch of Aryabhata satellite in 1975	First satellite successfully launched by India
Establishment of the Vikram Sarabhai Space Centre (VSSC) in 1972	Development of technologies for rocket and satellite launch
Launch of Rohini satellite in 1983	First satellite launched using an Indian-made launch vehicle
Launch of Polar Satellite Launch Vehicle (PSLV) in 1993	Capability to launch smaller satellites into orbit
Launch of Geosynchronous Satellite Launch Vehicle (GSLV) in 2001	Capability to launch larger and heavier satellites into orbit
Successful Mars Orbiter Mission (MOM) in 2014	India became the first country to successfully launch a spacecraft to Mars in its first attempt
Formation of NewSpace India Limited (NSIL) in 2019	Increased involvement of private sector in space activities and commercialization of space technologies
Announcement of Gaganyaan mission in 2018	Development of human spaceflight capabilities in India

India’s Space Potential

Economy and employment: India’s space economy, estimated at $9.6 billion in 2020, is expected to be $13 billion by 2025. However, with an enabling policy and regulatory environment, the Indian space industry could exceed $60 billion by 2030, directly creating more than two lakh jobs.
Downstream activities: Downstream activities such as satellite services and associated ground segment are dominant, accounting for over 70% of India’s space economy.
Media and entertainment segment: Media and entertainment account for 26% of India’s space economy, with consumer and retail services accounting for another 21%.

Increasing space start ups: The Indian private sector is responding to the demands of the Second Space Age, with over 100 space start-ups today. From less than $3 million in 2018, investment in the sector has doubled in 2019 and crossed $65 million in 2021.
Potential of multiplier effect on economy: The sector is poised for take-off, as a transformative growth multiplier like the IT industry did for the national economy in the 1990s.

ISRO needs to focus on research and collaborate with the Indian private sector, which has different needs and demands.
To create an enabling environment for the private sector, India needs a space activity act that provides legal grounding, sets up a regulatory authority, and enables venture capital funding into the Indian space start-up industry.
Although a series of policy papers have been circulated in recent years, legislation is needed to provide legal backing and create an enabling environment for private sector growth.

Conclusion

India’s space industry has enormous potential, but realizing it requires an enabling policy and regulatory environment that encourages private sector growth. With a space activity act that provides legal backing, sets up a regulatory authority, and enables venture capital funding, India can take advantage of the Second Space Age and become a major player in the global space economy.

Mains Question

Q. What do you understand by mean Second Space Age? Highlight potential of India’s space industry and growing role of private sector