It addresses the necessity for private sector participation in outer space and the need for a national space legislation for India. It discusses India's international obligation; reflects upon relevant principles and rules of the international space law; studies the laws of spacefaring nations and outlines the minimum legislative agenda as to what should be the content of such a legislation. It also discusses legal issues relating to commercial space activities like remote sensing and space transportation. Privatisation aspects of the PSLVs have also been discussed.