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The Space Policy and Management is a relatively new phenomenon and is only expected to grow further with the progress of this century and the advancement of the technology in this industry. Yet only in the nascent stage, the industry is generating huge expectations, not only from the people in the industry, but even from a larger circle, including the people working behind to make this phenomenon and the governments looking forward to it. With such huge potential, promising opportunities,one must not forget it as an industry, a sensitive one, where there are issues and challenges other than safety, which obviously is the greatest challenge the industry faces. We are working on a few projects addressing the policy and management issues such as industrial approach in space tourism, sustainable usage of space & space law, policy issues and initiatives by private players.