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The announcement of space sector reformation is not the privatisation of the Indian Space Research Orgsation (ISRO) but a fair opportunity of participation, said ISRO chief K Sivan on Thursday.Addressing a virtual conference, Sivan said, "ISRO shares the vision of exploring the impossible as we have our eyes set on every definition in our inner solar system. While the new space sector reform will increase the diversity in the space program."According to the ISRO chief, this reformation will give a push to the start-ups in the sector."In India, we have seen the space sector start-up taking up the development activities. However, there was no mechsm available in the country to extend any kind of technology and infrastructure support to them (Private sector)," said Sivan.Sivan further said, "Any space activity is not a normal activity, it has a lot of strategical importance. Also, we have a lot of risk elements where the responsibility lies with the government. For this, the government of India has set up an institutional mechsm within the Department of Space known as 'Indian National Space Promotion and Authorisation Centre' (IN-SPACe).""The space sector reforms has great symbolic value as it aims to widen the space industry within the country. The New Space India Limited (NSIL), a central PSU has been empowered to carry out routine launches," he said.Clearing the air with the speculation about the privatisation of ISRO, Sivan said, the announcement of new space sector reformation is not the privatisation of ISRO. In fact, this will enable the people to carry out the space activity, which otherwise was being done by ISRO. This will also increase the activity of ISRO."Sivan also spoke about ISRO's plan with this reformation, "We will be focussing on capacity building, technology development and increase activity to international level. ISRO will also facilitate a fair set of participation through the announcement of opportunity.""In this, the private sector has to carry out their research and development activities, business viabilities, funding and finding customers for their services which is currently being done by the ISRO and now will be allowed to the private sector," he informed.India's recent changes in space will be critical for not just India's growth, but for that of the space sector around the world. This sector will grow in all dimensions to provide services to customers and India should be at the forefront of that revolution, he added.On June 24, Minister of State for Atomic Energy and Space, Jitendra Singh announced the formation of a new institution, IN-SPACe to guide the private industries in space activities through encouraging policies in a friendly regulatory environment.It will also hand-hold, promote, and guide the private industries in space activities through encouraging policies and a friendly regulatory environment.The Public Sector Enterprise 'New Space India Limited (NSIL)' will endeavour to re-orient space activities from a 'supply-driven' model to a 'demand-driven' model, thereby ensuring optimum utilization of our space assets, according to a release from Prime Minister's Office (PMO).( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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