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Liability Risk Sharing Framework for Commercial Launch Industry in India

Liability Risk Sharing Framework for Commercial Launch Industry in India There is an appreciable body of research addressing the liability issues in space launch activities. Yet, the accommodation of these principles into the legal frameworks governing commercial space launch industry in developing states, like India, is not adequately addressed. Despite being a spacefaring state since 1963, India’s commercial launching industry is in its nascent stage primarily due to statutory restrictions. Although the Indian government has allowed private participation, the liability sharing framework under the proposed laws, as reflected from drafts, is not fit to accommodate non-governmental launchings. To mend this, the paper posits that India devise a liability risk sharing framework to ensure legal certainty with a balance between industrial goals and exchequer’s interests. As such, this paper considers, comparatively and analytically, a tailored regulatory environment for first, second, and third-party liabilities in India along with damage assessment standards and insurance requirements. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Astropolitics Taylor & Francis

Liability Risk Sharing Framework for Commercial Launch Industry in India

Astropolitics , Volume 21 (1): 30 – Jan 2, 2023
30 pages

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References (95)

Publisher
Taylor & Francis
Copyright
© 2023 Taylor & Francis Group, LLC
ISSN
1557-2943
eISSN
1477-7622
DOI
10.1080/14777622.2023.2195103
Publisher site
See Article on Publisher Site

Abstract

There is an appreciable body of research addressing the liability issues in space launch activities. Yet, the accommodation of these principles into the legal frameworks governing commercial space launch industry in developing states, like India, is not adequately addressed. Despite being a spacefaring state since 1963, India’s commercial launching industry is in its nascent stage primarily due to statutory restrictions. Although the Indian government has allowed private participation, the liability sharing framework under the proposed laws, as reflected from drafts, is not fit to accommodate non-governmental launchings. To mend this, the paper posits that India devise a liability risk sharing framework to ensure legal certainty with a balance between industrial goals and exchequer’s interests. As such, this paper considers, comparatively and analytically, a tailored regulatory environment for first, second, and third-party liabilities in India along with damage assessment standards and insurance requirements.

Journal

AstropoliticsTaylor & Francis

Published: Jan 2, 2023

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