India can emerge as global space leader with govt support, private investment

Overall Outlook is Optimistic

♦ Country’s private space sector seen significant growth in last decade

♦ Experts attribute this to progressive policies by the government

♦ From1 digital startup in the Space sector in 2021, India now has 300

New Delhi: With apt support from government and private investments, India will emerge as a global space leader, said experts on Friday on the first National Space Day.

India is celebrating its maiden National Space Day [NSpD-2024] on August 23 with the theme "Touching Lives while Touching the Moon: India's Space Saga."

The day aims to honour the landmark achievement of the Chandrayaan 3 spacecraft, which made India the fourth country to land on the Moon and the first to reach its southern polar region on August 23, 2023.

Led by ISRO, India has in the previous decade pushed the boundaries leading to a string of groundbreaking achievements, including the Mangalyaan mission, the record-breaking launch of 104 satellites, Chandrayaan 3, and Aditya L-1.

The country’s private space sector has also seen significant growth in the last decade. Experts attribute this to progressive policies by the government, including the India Space policy, and the formation of NewSpace India (NSIL).

“While challenges like funding and infrastructure exist, the overall outlook is optimistic. With sustained government support and private investments, India has the potential to emerge as a global space leader,” Dr. Subba Rao Pavuluri, CMD, Ananth Technologies and President SIA-India, said.

"India's space sector has undergone a transformative journey, evolving from modest beginnings to a global leader in space exploration and innovation,” added Vishesh Rajaram, Managing Partner at Speciale Invest.