The Department of Space has highlighted that India’s Space economy is expected to increase five-fold from 8.4p bn $ to 44 bn $ in a few years making value addition in the Indian economy and moving towards Viksit Bharat @2047.
Indian Space Sector
- Current Value: India’s space industry is valued at approximately $8.4 billion, contributing 2% to the global space economy.
- Government Spending: Annual spending on space programs is approximately $2 billion.
- Satellite Launches and Revenue: Since 1999, India has launched 381 satellites for 34 countries, generating $279 million in revenues.
- Global Position: The Indian Space Research Organisation (ISRO) is the sixth-largest national space agency in the world.
- Future Potential: India’s space economy could grow to ₹35,200 crore ($44 billion) by 2033, capturing 8% of the global share.
Government Initiatives for Space and ISRO
- IN-SPACe: The Indian National Space Promotion and Authorization Center (IN-SPACe) facilitates private sector participation in space activities, ensuring policy and regulatory support.
- Launch of NSIL (NewSpace India Limited): NSIL commercializes ISRO’s technologies and satellite launches, expanding India’s footprint in the global space economy.
- Budget Allocations: India allocated about Rs. 13416 crore to the Department of Space in Budget 2025-26
- Focus on Education and Innovation: Programs like Young Scientist Programme (YUVIKA) and collaboration with IITs and IISc promote space education and R&D in India.
- Indian Space Policy 2023: The policy defines roles for ISRO, IN-SPACe, and private players, focusing on commercialization and R&D, with ISRO focusing on strategic missions.
Recent Achievements of ISRO
- Chandrayaan-3 Mission: ISRO successfully landed the Vikram Lander near the Moon’s south pole, making India the first country to do so.
- The mission also deployed the Pragyan Rover, which conducted on-site experiments, including the detection of sulfur and other elements.
- Aditya-L1 Mission: Aditya-L1 was launched by ISRO to study the Sun’s atmosphere, including the corona, solar winds, and magnetic storms.
- XPoSat: XPoSat is India’s first X-ray polarimetry space mission and the second such space-based observatory after NASA’s IPEX (2021).
- Gaganyaan Human Spaceflight Preparations: ISRO completed critical tests for the Gaganyaan mission, including a crew escape system test.
- Gaganyan aims to make India the fourth country to send humans into space.
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Potential of Space Sector in India
- Significant Growth Potential: India’s space economy, currently valued at ₹6,700 crore ($8.4 billion) with a 2% share in the global market, is projected to grow to ₹35,200 crore ($44 billion) by 2033, increasing its global share to 8%.
- Domestic and Export Market potential :The domestic market is expected to rise from ₹6,400 crore ($8.1 billion) to ₹26,400 crore ($33 billion), while the export market is set to grow from ₹2,400 crore ($0.3 billion) to ₹88,000 crore ($11 billion) over the next decade.
- Expected Investments: An estimated ₹17,600 crore ($22 billion) investment is envisioned over the next 10 years.
- Strong Private Sector Involvement: IN-SPACe and ISRO are fostering greater private sector participation, with a focus on collaboration, regulatory support, and technology transfer to Non-Governmental Entities (NGEs).
Status of Space Startups in India
- Rapid Growth in Space Startups: The number of space startups in India has increased dramatically from just 1 in 2022 to nearly 200 in 2024.
- Government Support and Policy Changes: The significant growth is attributed to policy reforms by the Indian government, particularly the decision to open the space sector to private players and encourage public-private partnerships.
- Increased Investment in the Sector: In 2023 alone, approximately ₹1000 crore was invested in India’s space sector, indicating strong financial backing and investor confidence.
- Rising Role of MSMEs and Private Sector: Around 450 MSMEs are now engaged in space-related industries.
Challenges Faced by the Indian Space Sector
- Budget Constraints: While ISRO has gained global recognition, it operates on a relatively small budget compared to leading space agencies.
- While ISRO’s current annual budget is about $1.6 billion, NASA’s current annual budget is $25 billion.
- Technological Gaps: India still lags in developing heavy-lift rockets and advanced reusable launch technologies, which are crucial for deep-space exploration and cost reduction.
- India’s most powerful rocket, the LVM3 (Launch Vehicle Mark-3), has a payload capacity of 4,000 kg to geostationary orbit (GTO) while SpaceX’s Falcon Heavy can carry 26,700 kg to GTO.
- Space Debris Management: The rise in satellite launches increases the risk of space debris, threatening operational satellites and future missions.
- ISRO has initiated Project NETRA to track space debris, but more comprehensive measures are needed.
- Brain Drain: Many of India’s top scientists and engineers leave for better opportunities abroad due to limited funding, salaries, and research incentives in the country.
- Geopolitical Constraints: International collaborations in space are restricted by global sanctions and technology denial regimes, such as the Missile Technology Control Regime (MTCR).
- These restrictions make it difficult for India to access critical space technologies and components.
Way Forward
- Increased Budget Allocation: India should prioritize higher funding for space research to match the global average investment in space programs.
- Public-Private Partnership: Through IN-SPACe (Indian National Space Promotion and Authorization Center), India can engage private players to enhance technological capabilities, and expand commercial space opportunities.
- In the USA, private space companies such as SpaceX and Blue Origin have significantly contributed to the innovation in the space sector.
- Indigenous Innovation: To strengthen self-reliance in space technology, India should invest in:
- Heavy-lift rocket technologies like the GSLV Mk-III for deep-space exploration.
- Advanced propulsion systems for improved efficiency in satellite and interplanetary missions.
- Focus on Human Resources: Retaining top talent is essential for sustaining India’s space ambitions. Measures include:
- Attractive incentives for scientists and engineers.
- Global exposure through international collaborations.
- Skill-building programs, such as integrating space-related training under the Skill India Mission to create a skilled workforce.
- Space Debris Mitigation: With increasing satellite launches, India must develop technologies for orbital sustainability.
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- It should also actively participate in global space debris mitigation efforts to ensure long-term sustainability of Earth’s orbits.
Space Vision 2047
- Space Vision 2047 outlines an ambitious roadmap to establish India as a leading spacefaring power by its 100 year of independence.
Goals under Space Vision 2047
- Bharatiya Antariksha Station (BAS): India plans to deploy its own space station, the Bharatiya Antariksha Station, with the first module scheduled for launch in 2028.
- The complete station is expected to be operational by 2035.
- Crewed Lunar Mission: By 2040, India aims to execute a manned mission to the Moon, marking a significant milestone in its human spaceflight program.
- This mission will build upon the technologies and experiences gained from previous missions, including the Gaganyaan project and the development of BAS.
- Chandrayaan-4 Mission: Scheduled for 2027, Chandrayaan-4 is a lunar sample return mission designed to collect and transport lunar soil and rock samples back to Earth.
- Venus Orbiter Mission (VOM): VOM aims to study Venus’s surface and subsurface, atmospheric processes, and the influence of the Sun on its atmosphere.
- It is planned for launch by 2028.
- Next Generation Launch Vehicle (NGLV): To support these ambitious missions, India is developing the NGLV.
- NGLV is a reusable, low-cost launch vehicle expected to be operational by 2032.
- This vehicle will enhance India’s payload capacity and reduce the cost of access to space, facilitating more frequent and economical missions.
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27 Feb 2025
