The proposed third-party insurance framework for India’s commercial space sector could strengthen the country’s risk-management architecture as private participation and mission complexity continue to grow, industry experts said.
Sushant Sarin, Managing Director and Head, Commercial Risk Solutions, India, Aon, said insurance would be critical to giving space operators and investors greater confidence to scale. He said clearer provisions on liability arising from space activities could help reduce potential government exposure to unexpected events while allowing private space companies to identify and manage risks at an early stage.
According to Sarin, greater clarity on liability and insurance requirements could also facilitate more efficient access to capital and strengthen trust among global investors and international partners. A robust framework, he added, could help align India’s commercial space ecosystem with global safety and risk-management standards.
In Kolkata, the proposed framework could have wider implications for the city’s financial and insurance ecosystem, particularly as demand grows for specialised risk advisory, underwriting and corporate insurance solutions linked to emerging technology and infrastructure sectors. Greater certainty around space-related liabilities could also create opportunities for insurers, brokers and financial institutions to develop products tailored to the evolving needs of India’s private space companies.