Aakriti Verma
Student, Symbiosis Law School, Noida
From becoming the first country to land on the south pole of the moon to the world’s first 3D- printed semi-cryogenic engine, India has taken exponential leaps when it comes to space technology. Not only this, it has also ushered into commercial space age. Although India has kept its space sector highly centralized, with the Indian Space Research Organisation (“ISRO”) at the helm, but, with the advent of private firms such as Blue Origin and SpaceX, a global trend has been manifested and a revolution has been set in motion. This has necessitated the need for India to embark on a similar journey. The concept of ‘New Space’ has distorted the traditional paradigms, introducing greater privatisation, advancement in technology and greater commercial interest.
Swarna Mullick & Aditya Kashyap
Students, Symbiosis Law School, Pune
From becoming the first country to land on the south pole of the moon to the world’s first 3D- printed semi-cryogenic engine, India has taken exponential leaps when it comes to space technology. Not only this, it has also ushered into commercial space age. Although India has kept its space sector highly centralized, with the Indian Space Research Organisation (“ISRO”) at the helm, but, with the advent of private firms such as Blue Origin and SpaceX, a global trend has been manifested and a revolution has been set in motion. This has necessitated the need for India to embark on a similar journey.
Avishi Shukla & Viraj Singh
Students, Rajiv Gandhi National University of Law, Patiala
Space is an entity that has been viewed as a global common for decades now. The doctrine of ‘common heritage for mankind’ encompasses the entire realm of space, owing to the absence of its appropriation and the common duty to exploit space resources for the benefit of mankind. The discussion around space law began around 1957 when the first artificial satellite was sent into space. During the Cold War era, the competition between the USA and the USSR showcased the human desire to subjugate space, like the high seas or atmosphere. Hence, it became paramount to create a treaty that regulated human affairs in outer space.
Aditya Dwivedi & Prajwal Dwivedi
Students, Symbiosis Law School, Pune
Space research is getting close to a new limit. A new estimate says that the space business will be worth $1.8 trillion by 2035. This is because satellite and rocket-based technology is becoming more common everywhere. At the moment, technologies that use space are very important for many things, from predicting the weather to making smart devices like trackers more common. Additionally, space technologies are helping a lot of different groups, such as those involved in retail, consumer items and lifestyle, food and drinks, supply lines and transportation, and emergency relief. It looks like these areas will gain from progress in space technology.
Taru Jhunjhunwala & Ahzam Anwar
Students, National Law University, Jodhpur
According to an Insight Report by the World Economic Forum, the world space economy is expected to be worth $1.8 trillion by 2035. The current valuation of the Indian space economy stands at $8.4 Billion with a 2% share in the world economy. India hopes to achieve its target of a 10% share in the world space economy by 2030.
It is pertinent to note that the global space sector is transitioning from Space 3.0 era to Space 4.0 era. This transition stresses upon partnerships between public and private sector entities with an increased involvement of the private sector in space activities.
