Udita Sharma
Udita Sharma
Investment Engagement Manager
Helped 500+ investors build
their investment thesis.
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India’s Space Industry Is No Longer Just About ISRO

India’s space industry has entered a transformative phase. What began as a government-led endeavor through ISRO has now become a vibrant, hybrid ecosystem involving public institutions, private companies, and global collaborations. With strategic reforms, increased private participation, and ambitious national goals the sector holds promise.

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Global Context and Strategic Positioning

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Policy Reforms & Regulatory Infrastructure

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Public-Private Partnerships and Key Government Projects

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Private Sector Emergence & Startup Ecosystem

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Key players:

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Major investors in the Indian Space industry include Google, Amazon (Kuiper), Mahindra, L&T, Nelco, OneWeb, Hughes, Maxar, Planet.

Infrastructure and Manufacturing Clusters

  • Space manufacturing clusters planned in Kerala and Tamil Nadu.
  • ISRO inaugurated new facilities: PSLV integration, wind tunnels, semi-cryogenic test sites.
  • New spaceport to be commissioned by 2026, boosting launch cadence and supporting SSLV demand.

Future Missions & Vision 2047

  • Gaganyaan: India’s first crewed spaceflight program, funded for acceleration.
  • Next Generation Launch Vehicle (NGLV): Target launch by 2032 with ₹8,240 crore funding.
  • Bharatiya Antariksh Station: India’s space station planned by 2035.
  • Crewed Lunar Mission: Targeted by 2040.
  • Chandrayaan-4: Sample return mission (2027)
  • Venus Orbiter Mission: Scheduled for launch in 2028
  • Ax-4 Mission: Indian astronaut to the ISS via Axiom Space partnership

Challenges and Strategic Needs

  • Need for predictable regulation and IP frameworks
  • Talent pipeline, deep-tech mentorship, and university collaboration are still evolving
  • Satellite broadband and ground infrastructure expansion

India’s space industry has evolved from a cost-effective satellite launcher to a comprehensive, innovation-driven ecosystem. With reforms in policy, FDI, funding, and public-private engagement, the country is well-positioned to capture a larger share of the global space economy. The next 15 years will be critical as India transitions from ambition to execution in establishing itself as a spacefaring superpower.

Frequently Asked Questions

Q: What is India’s goal for its space economy by 2040?
A: India aims to grow its space economy from $8 billion today to $100 billion by 2040, driven by policy reforms, private investment, and strategic public-private partnerships.
Q: What role does private industry play in India’s space growth?
A: Private startups and companies are central to manufacturing launch vehicles, building satellites, and driving innovation, with over $463 million in funding received since 2017.
Q: What reforms have supported space sector liberalization in India?
A: Key reforms include the Indian Space Policy 2023, 100% FDI in satellite components, and a ₹1000 crore VC fund to support over 40 startups.
Q: Which are the top startups in India’s space tech ecosystem?
A: Leading players include Agnikul Cosmos, Skyroot Aerospace, Pixxel, Dhruva Space, and Bellatrix Aerospace, each contributing to launch tech, satellite platforms, or propulsion.

Udita Sharma
Udita Sharma
Investment Engagement Manager
Helped 500+ investors build
their investment thesis.
Say Hi

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