Space policy is the political decision-making process for, and application of, public policy of a state (or association of states) regarding spaceflight and uses of outer space, both for civilian (scientific and commercial) and military purposes. International treaties, such as the 1967 Outer Space Treaty, attempt to maximize the peaceful uses of space and restrict the militarization of space.
Space policy intersects with science policy, since national space programs often perform or fund research in space science, and also with defense policy, for applications such as spy satellites and anti-satellite weapons. It also encompasses government regulation of third-party activities such as commercial communications satellites and private spaceflight
Space policy also encompasses the creation and application of space law, and space advocacy organizations exist to support the cause of space exploration.
With the success that India has achieved, be it the successful mission of Chanrayan or MOM(Mars Orbiter Mission), it is right to say that India has come at par with the likes of Russia, U.S., Japan, etc. And the world also expects the same kind of response from India but sadly our country has no space laws regarding the same.