India, July 29 -- The Federal Aviation Administration has announced that it is launching a new initiative to streamline commercial space licensing, making it faster and easier for innovators to secure approvals to launch rockets, reenter spacecraft, and operate launch and reentry sites.

The move builds on President Donald Trump's "Enabling Competition in the Commercial Space Industry" Executive Order and advances a decades-old Congressional mandate to simplify and expedite commercial space licensing.

The proposed rule would allow FAA to waive unnecessary environmental laws and regulations that are slowing American innovation. Requirements that are needed to protect public health and safety, property, national security, or U.S. foreign pol...