According to Pawan Goenka, chairman, Indian National Space Promotion and Authorisation Centre (IN-SPACe), the Department of Space is preparing a draft Space Bill, which is, reportedly, expected to be presented for stakeholder consultation in the first quarter of the upcoming fiscal year (Q1 FY2025-26).
This bill aims to address both international and national obligations, outline offences along with corresponding punishments, establish barriers to entry for private companies, and clarify liability for damages incurred during space activities.
In addition, the process for selecting a professional manager for the venture capital fund is currently in progress. This fund is being set up as an Alternative Investment Fund Category II, registered with the Securities and Exchange Board of India. The mechanisms and framework for the fund are already established, ensuring its operation aligns with industry-standard venture capital practices.
