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Proposed Venture Capital Fund envisions to expand the space economy by 5 times in the next 10 years.
- Venture Capital Fund invests in early-age startups with long term growth potential.
Indian Space Economy
- Present Indian space economy values around ₹6,700 crore and with a 2% share in global space economy in 2021.
- This share is expected to rise to 8% by 2030 and further to 15% by 2047.
- Space Start-ups have increased to nearly 200 in 2024 from 1 in 2022.
- Investment in Indian Space Start-Ups increased to $124.7 Million in 2023.
- Implementation of Indian Space Policy 2023 is expected to build $44 billion Indian space economy.
Key initiatives for growth of Space Economy
- Indian National Space Promotion and Authorisation Centre (IN-SPACe) – a single window nodal agency to promote and authorize space activities.
- Space sector reform 2020 which opened the sector for private sector participation.
- Indian Space Policy and 100% FDI in some sub-sectors of space.
- Rising private sector participation with startups such as Skyroot Aerospace (Vikram-S, Prarambh mission), Agnikul Cosmos (Dhanush - first private launchpad) etc.
- Transfer of technology to private players by ISRO, NSIL/IN-SPACe.
- International collaborations such as NISAR programme and Artemis Accords.
Challenges to Indian Space Economy
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