\"There has to be a Space Park, where incentives in manufacturing will be given. Only a production-linked incentive (PLI) scheme won’t work as it is meant only for a product,\" AK Bhatt, director general, ISpA told ETSatcom.
The Delhi-based space group represents OneWeb<\/a>, Larsen & Toubro, Bharti Airtel, Tata's Nelco, Godrej, Hughes India and Walchandnagar Industries.
The government, according to him, should also allow tax holidays for some time.
\"Our first startup is 10-year-old. The incentive is only for 10 years. But the policy has not come. We would request the government to give them five more years. Multiple incentives will have to be given to the industry<\/a> for more people to come into the sector,\" the executive said.
The top executive said that creation of Space Park should be on a public-private partnership (PPP) mode, and would also boost localised product testing capabilities in tandem with Centre's prestigious self-reliance initiative in manufacturing.
\"It (Space Parks) should be on a public private partnership, and only private players may not be required for creating it. There will be a possibility of high-grade testing too,\" Bhatt said.
The group has also sought access to the Isro<\/a> testing facility initially.
If this market grows, Isro’s facility after some time will be inadequate. There will be a queue, and it should be created somewhere so that multiple companies including startups can benefit, he added.
The space lobby believes that akin to the special economic zones (SEZ) set up for the Information Technology (IT) industry, the Centre should look into providing holistic support.
In 2016, the Indian Space Research Organisation (Isro) planned to open up a 100-acre Space Park in Bengaluru, and later Kerala government too came out with a similar strategy to attract startups worldwide, but are yet to be materialised.
The space association has also sought incentive-led schemes and soft loans to propel growth in the nascent domain.
In a recent finding, ISpA-EY said that India's space segment is set to become a $12.8 billion (about Rs 1.05 lakh crore) market by 2025.
The study further said that the investment in spacetech start-ups increased 196% year-on-year in 2021, and India has become home to more than 100 spacetech start-ups.
The study also advocated multiple ways to bolster India's space industry that includes a single window approval process through a nodal body to enhance ease of doing business, introduction of Production Linked Incentive (PLI) scheme for satellite manufacturing, and promotion of independent solutions created by Indian private companies for satellites and other spacecrafts<\/a>.
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