While elucidating India's policy on Outer space mining, examine the implications of recently signed US Commercial Space Launch Competitiveness Act.
India does not have a domestic law or policy on activities related to outer space. But India is a signatory to both Outer Space Treaty and the Moon Agreement. Several satellites have been launched by India. India is also active in space explorations and has successfully sent a probe to Mars. In past, India has expressed interest in lunar exploration, particularly in relation to Helium-3.
In the near future there is no threat from the US law as the outer space mining might take few decades. But once the space mining really started, India should not be left behind. India along with other countries should press that no country absolutely owns the outer space and extraction of mineral resources must be based on a proper international law. There is also a need for an international regulatory body to monitor the outer space activities. The international space regime needs to be legally binding on its members and all space exploring countries should become signatories to it.