Boosting Innovation As Projected Funding Towards Startups In The Indian Space Sector

The Indian space sector is undergoing a sea change because of effective government reforms, sudden spurts in the private sector, and increasing funding.

These dynamic factors will be the backbone to innovate, open up opportunities for startups, and propel India into the breach to be one of the key contributors in the world space sector.

This would be seen by many analysts as the turning point for growth in the space sector.

The policy of April 2023 on the Indian Space Policy has opened up a sector to private players who could manufacture and launch satellites with the aim of utilizing them in communication services.

It would be a critical component of such a policy to have a single-window facilitator through an agency called IN-SPACe.

The Indian space start-up scenario has grown by leaps and bounds in the last couple of years, from one start-up in 2014 to over 180 by 2023, with the investments surging above $285 million.