The Indian Space Association (ISpA) also suggested allowing a 25% depreciation on the one-time licence fee for satellite operators and treating the annual licence fee as revenue expenditure. This approach would reduce taxable profits and optimize the tax impact, thereby supporting business operations in the satellite sector.
While welcoming the government's move to ease FDI norms in the space sector, Indian Space Association, which represents around 32 space tech startups apart from bigger players like Bharti Airtel and so on, said that the norms will boost confidence of all space industry members
The report by IsPA, Deloitte and Nasscom talks about India's space economy and collaboration opportunities for the private sector and the government specifically focusing on downstream spacetech.
While congratulating Indian Space Research Organisation, space tech industry body Indian Space Association said that inclusion of private players and space tech startups will be necessary in the coming years to make India a leader in the global space economy.
The cost of acquiring licences through satellite spectrum auctions can be huge.That could prove to be a significant financial entry barrier to start-ups.
The Indian Space Policy was released on April 20 by the Indian Space Research Organisation (ISRO), more than a week after the Cabinet approved it.
The Chief of Defence Staff called for enhancing the country's space situational awareness, which means to understand the orbital environment better, with accurate data on space radiation and where each object is located.
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.
Indian Space Association (ISpA) represents homegrown and global corporations with advanced capabilities in space and satellite technologies.