On 6 April, 2023, the Union Cabinet approved a new space policy, as well as the establishment of the world’s third gravity wave observatory at Hingoli in Maharashtra at a cost of Rs 2,600 crore.

The Indian Space Policy 2023 will provide a foundation for the private sector companies and startups to offer space-based services, which would range from satellite launch to offering 'ease of living' services to citizens, as stated by Union Science & Technology Minister Jitendra Singh.

The policy, approved by the Cabinet Committee on Security. will facilitate harnessing space as a growth sector for the economy, while attracting private investment, even as it promotes scientific breakthroughs.

The Laser Interferometer Gravitational-wave Observatories (LIGO), India project will set up the world’s third gravitational wave observatory in Maharashtra in collaboration with the California Institute of Technology (Caltech) and Massachusetts Institute of Technology (MIT). The project will be piloted by the Department of Atomic Energy (DAE) and the Department of Science and Technology (DST).

Gravitational waves carry vital information about the universe, wherein the first gravity wave detected in September 2015 provided scientists with a new approach.