Since the establishment of the Indian space programme in 1962, India has achieved numerous milestones in the field of space exploration. The Indian Space Research Organisation (ISRO) has played a crucial role in launching satellites, Moon missions, and spacecraft to Mars. Some notable accomplishments include the Rohini series of satellites, INSAT and GSAT Series, Chandrayaan-1, Mars Orbiter Mission, and Chandrayaan-2.
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In recent years, there have been significant reforms in the commercial space Sector, thanks to the efforts of ISRO and the emergence of space-tech startups. Last year, a Hyderabad-based startup called Skyroot Aerospace successfully launched India’s first privately developed launch vehicle, with support from ISRO and the Indian National Space Promotion and Authorisation Centre (INSPACe).
India is now entering a new era in space exploration, with collaborations between Indian and international firms for Satellite Launch Services. ISRO has collaborated with London-based communications company OneWeb to launch its satellites. Additionally, the Indian space sector is witnessing new opportunities in space-based internet, space manufacturing and production, space education and research, satellite launch services, satellite data-based monitoring, and international collaborations.
According to a joint report by Ernst & Young (EY) and the Indian Space Association (ISpA), the Indian space economy is projected to grow to $12.8466 billion by 2025. Satellite manufacturing, launch services, ground segment, and satellite services are the key contributors to India’s space economy.
The future of the Indian space sector looks promising, with opportunities for market-ready satellites, sub-systems, and space hardware. The private space industry in India, including micro, small, and medium enterprises (MSMEs), is well-positioned to meet the global demand for low-cost and reliable space technology.
Overall, India’s achievements and ongoing efforts in the space sector have positioned the country as a significant player in space exploration and have opened up new avenues for growth and collaboration.
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