HomeNewsIndiaIndian Space Association suggests setting up Space Technology Parks to boost private sector

Indian Space Association suggests setting up Space Technology Parks to boost private sector

In a concept paper titled 'Space Technology Parks To Energize Aatmanirbhar Bharat in Space Domain', the private space industry body said that Space Technology Parks (STP) were essential to drive economic growth, bring significant socio-economic impact, create new jobs and foster innovation in the space sector.

February 15, 2023 / 19:21 IST
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The industry body suggested focusing on incubation and innovation centres to help create an environment and tools for improving the priority areas and objectives aligned with the technological and strategic needs of the country. (Representative image)
The industry body suggested focusing on incubation and innovation centres to help create an environment and tools for improving the priority areas and objectives aligned with the technological and strategic needs of the country. (Representative image)

The Indian Space Association (ISpA) on Wednesday suggested setting up Space Technology Parks, on the lines of IT Parks and industrial corridors, to give impetus to the country's nascent private space industry.

In a concept paper titled 'Space Technology Parks To Energize Aatmanirbhar Bharat in Space Domain', the private space industry body said that Space Technology Parks (STP) were essential to drive economic growth, bring significant socio-economic impact, create new jobs and foster innovation in the space sector.

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"The development of STP is a critical step in the advancement of the country's space industry and will have far-reaching impacts on the economy, infrastructure, and quality of life in the years to come," Lt Gen A K Bhatt (retd.), the Director General of ISpA, said.

The concept paper flagged concerns on certain clauses of the draft Space Activities Bill that states that any intellectual property right developed, generated or created onboard a space object in outer space, shall be deemed to be the property of the central government.