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The maturing private space sector in the U.S. has learned to raise money from the market in the form of sectoral equity-traded funds. Such financing mechanisms will keep the U.S. ahead in the global space economy, which is slated to grow manifold from $430 billion now to $4 trillion by 2040. India's fledgling private space ecosystem, financiers, and stock exchanges can learn from the U.S. and do the same for India's newly reformed private space sector.
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Social media platforms such as Twitter and Facebook have come under global scrutiny in recent months following their use to incite or misinform the public. For years, governments around the democratic world have not taken the responsibility to adequately regulate these platforms. Now that may be changing – and it won’t be easy.
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India needs a policy mix that nurtures the Space 2.0 industry, secures it from hostile takeovers and predatory investments from overseas investors, and does not suffocate it under excessive protectionism.
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Bharti Global’s stake in OneWeb has given India lateral entry into this lucrative and newly-competitive global satellite-based internet services market. India and the U.K., the two stakeholders in this company, can build and sustain this collaboration through a well-thought-out bilateral space diplomacy agenda.
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With India now considering the creation of a policy to promote additive manufacturing, it is necessary to look at whether this new industry has a conducive regulatory environment, both at the domestic and global level. A key element of additive manufacturing is 3D, rapidly becoming a critical element in industrial and national security. Suitable regulation will ensure that countries that are heavily reliant on China for manufacturing, will have a chance to build their own industrial base
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India’s pledge to the Paris Agreement gives it the flexibility to confidently place its climate action policies across various multilaterals. Although an observer of the Arctic Council, India can collaborate with the body's upcoming chair, Russia, to alleviate climate change concerns stemming from the Arctic. It is time for India to use its goodwill with the Arctic Council members to develop a national Arctic policy.
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India has institutionalized a robust civilian-space agreement with the U.S. through the Joint Working Group on Civil Space Cooperation in 2005 and added a military dimension to it in 2020 when it signed the U.S.-India BECA Agreement. The two countries should now partner to secure each other’s interest in the rapidly-maturing space economy sector.
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The Space20 is the newest sub-forum of the G20 initiated by Saudi Arabia, with the support of the United Nations Office of Outer Space Affairs. India, on its way to the G20 presidency in 2022, should set a comprehensive Space20 agenda for the democratization of outer space, whereby it can share its space growth story with the developing world and achieve its goal to become a global knowledge epicenter.
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India is ahead of the curve in considering the regulation of non-personal data. The July 2020 Report by the government-appointed Gopalakrishnan Committee evaluated several aspects of non-personal data including its monetisation. An analysis of the Report, however, reveals some lacunae and questions on the early nature of the assessment since India has yet not yet established rules on the governance of personal data.
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The current notions of physical ‘permanent establishment’ or tangible locational nexus are not well-suited for the taxation of modern digital economy, especially for taxation of business income, rents or revenue creating activities. In a Covid-19 wrecked global economy, where government revenues are under severe stress, there is a compelling case for a market country or the value-creating jurisdiction to tax the income or rents attributable to the concerned market or location.