• To facilitate private sector participation, the government has created the Indian National Space Promotion and Authorisation Centre (IN-SPACe) in 2020 that functions as an autonomous agency in the Department of Space (DOS). 
• Established as a single window agency for all space sector activities of private entities, IN-SPACe plays an important role in boosting the private space sector economy in India.
• IN-SPACe, is responsible to promote, enable, authorize and supervise various space activities of the NGEs that include, among others, 
  • The building of launch vehicles & satellites and providing space-based services;
  • Sharing of space infrastructure and premises under the control of DOS/ISRO; and 
  • Establishment of new space infrastructure and facilities.

Why in News?

The Union Cabinet has approved setting up of Rs.1000 crore Venture Capital Fund dedicated to the space sector, under the aegis of IN-SPACe