How Indian Space Policy Helps Startups In Entering Orbit Faster

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Tlicyhe Union Cabinet has approved the Indian Space Policy 2023, which aims to further boost India’s spacetech segment and enhance the role of startups and private entities working in the space industry. The policy will lay down the roles and responsibilities of organizations such as the Indian Space Research Organisation (ISRO) and other private entities, and empower the Indian National Space Promotion and Authorisation Centre (IN-SPACe) to become an interface platform to get clearances on things ranging from Foreign Direct Investment (FDI) to bandwidth allocation. This is expected to facilitate private-sector participation in the space industry and increase speed to orbit 10X. India has seen a large number of spacetech startups emerge in recent years, such as Agnikul, Skyroot, Digantara, Pixxel, and SatSure, among others, and the Indian spacetech startups have started working on a global scale. According to an EY report, India’s space economy is set to become a $600 Bn market by 2025, growing at a CAGR of 6% between 2020 and 2025.It’s exciting to see Indian spacetech startups like GalaxEye Space and Pixxel making strides in the industry. GalaxEye Space’s plan to launch the world’s first multi-sensor satellite for earth observation is a great example of the innovative ideas that are being pursued in the Indian spacetech space. And Pixxel’s contract with a US defence agency for supplying technical hyperspectral imagery shows that Indian spacetech startups are making a name for themselves on the global stage. It will be interesting to see how these and other Indian spacetech startups continue to evolve and innovate in the coming years.