SPACE LAW - EXISTING STRUCTURE AND FUTURE PROSPECTS

Abstract

India is one of the fastest growing economies of the world and at a growth rate of 7.5% it has fared better than many other developing countries.  As we march ahead in all spheres of human endeavor, we are also making immense forays in the field of space exploration and its research. With recent accomplishments in this highly specialized area, we are now claiming our place amongst the elite nations who are the recognized world leaders in space technology.

Our country has tried to bring in all possible legislations, rules and regulations, and guidelines to stimulate growth. Even as we make in-roads in the area of space technology and research through various space agencies instituted by the Central Government, appropriate space legislation is a sphere that has largely been neglected or overlooked for a long time by the law makers. In an increasingly competitive global business environment, every nation would want to set its own priorities even in the use of the stratosphere and beyond. Again co-operation among nations in the use of space, sharing of information and space technology would become a need rather than a contentious issue. To make this happen, it is imperative that suitable legislation and a unified governance system recognized by all the nations of the world is put in place. However as a first step, we must be able to safeguard our own interests and enable the space sector business environment to accommodate and facilitate both public and private sector participation and investment.