The correct option is "1 and 2 only." The Indian National Space Promotion and Authorisation Centre (IN-SPACe) was indeed established to promote and regulate private sector participation in India's space activities, aligning with the government's initiative to enhance innovation and competition in the space sector. Agnikul Cosmos made headlines for launching the world's first flight using a 3D-printed rocket engine, showcasing advancements in technology and manufacturing within the Indian space ecosystem. However, Skyroot Aerospace has not developed liquid fuel for GSLV; rather, it has worked on different launch vehicles, primarily focusing on small satellite launch capabilities. This distinction emphasizes the growing role of private entities in enhancing India's self-reliance and technological prowess in space exploration.