The Indian growth story has been closely watched by the world. As Mahatma Gandhi once said “Be the change you wish to see the world” India, in its pursuit of progress in every field has embraced this philosophy, steering its destiny towards unprecedent growth. To this context, the Indian Space sector has played a massive role in the rise of the Indian growth story.  

But before we delve deeper into the rise of the Indian space sector, it is important that we understand the background behind the Indian space sector and the visionary people associated with it. There was a time when the world only saw the United States and the Soviet Union in the race of space exploration and India was not even considered in discussions about Space Programs. This changed when the visionary Dr. Vikram Sarabhai established the Indian National Committee for Space Research (INCOSPAR) in 1962. Under Dr. Sarabhai’s leadership, INCOSPAR embarked on a successful journey, overcoming numerous challenges. India’s interest in Space Travel began in the early 1960s, when scientists launched a Nike-Apache rocket from Thumba Equatorial Rocket Launching Station (TERLS), Kerela. The Indian National Committee for Space Research was subsequently set up, which later become the Indian Space Research Organization (ISRO) formed in August 1969. The country launched its first satellite “Aryabhata” into orbit in 1975.  

The Satellite Launch Vehicle (SLV)-3, a locally developed space rocket, was introduced in 1979, enabling India to undertake orbital launches. Experience gained from SLV-3 was used to develop an Augmented Satellite Launch Vehicle to develop technologies for launching satellites in geostationary orbit, but this ended up having very limited success and was eventually discontinued.  

This limited success strengthened the resolve of the scientists at ISRO in making greater strides to ensure that the Indian space sector is a major contributor to the country’s growth. In fact, scientists began studying the possibilities of developing a homegrown medium lift launch vehicle which led to the creation of the Polar Satellite Launch Vehicle (PSLV) which is today one of the biggest successes of ISRO. 

The success that ISRO achieved due to the creation of the PSLV rocket led to the creation of Antrix Corporation Limited in September 1992. Antrix Corporation, a Government of India owned company was established with the aim of being the commercial and marketing arm of ISRO by providing major technical consultancy services and technology transfer to the industry.  

The PSLV rocket was launched in 1993, enabling India to finally launch its polar satellites. Despite the initial failures in its first two flights, subsequent PSLVs had no further failures and emerged as ISRO’s primary workhorse for launching domestic and foreign satellites, thus also illustrating the capability of Indian scientists. The development of Geosynchronous Satellite Launch Vehicle (GSLV) and the GSLV Launch Vehicle Mark III subsequently began in the 1990s and 2000s to attain the capability to launch communication satellites.  

However, these launchers did not become operational until decades later, as India initially faced a great problem in the development of cryogenic rocket engines. To address these concerns, the Indian government in March 2019, launched New Space India Limited replacing Antrix Corporation, with a greater focus on producing, assembling and integrating launch vehicles with the help of an industry consortium. 

The Chandrayaan-1 Mission in 2008 where ISRO successfully launched its first lunar probe or the Mangalyaan Mission in 2013 when India made history by becoming the first Asian nation to reach the Martian orbit and also the first in the world to accomplish this feat in its very first attempt or the Chandrayaan-3 Mission in 2023 whereby the lunar lander and lunar rover successfully landed near the lunar south pole making India the fourth country to successfully land on the Moon and the first to do so near the lunar south pole illustrates the capability and the advancements that the Indian space sector has made ever since its inception in the 1960s. 

Despite the advancements made by India, it was still felt that the Indian space sector was still behind the likes of American and European space sectors, as both these sectors had huge private participation thereby creating greater economic opportunities for both these sectors. Whilst the IT industry in India had started engaging with the space sector since the 1990s and despite the efforts taken by the Department of Space to actively promote the growth of the sector by establishing manufacturing of various systems, the private sector only played a supporting role, while the government played a dominant role in the space sector. 

The need for involvement of the private sector in the Indian space industry arose as different industries and sectors such as agriculture, transport, weather and even urban development wanted satellite data and imageries to draw their future business strategy. Another reason for the need for private participation in the space sector was that ISRO alone was not able to cater to the rising demand for space-based applications and services in India’s rapid growth. 

In June 2020, with the Indian government in its resolve to promote Aatmanirbhar Bharat to offset the economic challenges arising due to the COVID-19 pandemic, announced the establishment of Indian National Space Promotion and Authorized Centre (IN-SPACe) to act as an arm of ISRO. IN-SPACe, was established to guide and promote private companies in their endeavour in space activities after assessing their needs and demands. Through IN-SPACe, private participation is extended towards the usage of ISRO’s infrastructure, scientific and technical resources, and even data for their space programmes.  

Post the announcement of the new initiative in 2020, today the country houses nearly 150 space startups from a mere 30 startups in 2019 with the startups operating in diverse segments such as launch vehicles, satellites, propulsion systems, ground services and applications, etc. From a modest $35 million funds raised by startups between 2010 and 2019, the funding raised in 2020 alone was $28 million thereby signalling the meteoric rise of the space sector post the announcement by the government in 2020. This trend continued in subsequent years with exponential growth reaching $96 million in 2021 and an impressive $112 million in 2022.  

To fuel further growth of the Indian space sector, the government also announced the Indian Space Policy of 2023 to further promote private participation in the sector. The highlights of the policy are as follows: 

• Non-Government Entities (NGE) (which also includes the private sector) are allowed to undertake end-to-end activities in the space sector through establishment and operation of space objects, ground-based assets and related services, such as communication, remote sensing and navigation. 
• Satellites can be self-owned, procured or leased; communication services could be over India or outside; remote sending data could be dismantled in India or abroad. 
• NGEs can design and operate launch vehicles for space transformation and establish their own infrastructure. 
• NGEs can also make filings with the International Telecommunication Union (ITU) and engage in commercial recovery of asteroid resources 
• In short, the entire space economy is open to the private sector. Security agencies can task NGEs for procuring tailor-made solution to address their specific requirements. 

The past few years have been significant for India’s private sector participation in the space industry. With the Indian Government’s vision for growth of the space sector to $44 billion by 2033, progressive policies are empowering private companies to fuel growth. The private sector, now energized and empowered by clear policies and support is stepping up to contribute significantly to India’s aspirations in space exploration and technology. A notable development in the private space sector is the PSLV HAL-L&T consortium and SSLV expression of interest to private players allows the industry to cater to commercial and research needs.  

The private sector also contributed significantly to the Chandrayaan-3 mission in 2023. For example, Godrej Aerospace provided the liquid propulsion engine named “Vikas” for the launch vehicle as well as thrusters. Construction and engineering conglomerate L&T was involved in manufacturing of the sub-systems as well as mission tracking. Bengaluru-based Centrum Electronics specialising in electronic equipment design such as telemetry sensors, essential for such complex landings, delivered more than 200 critical modules to the Chandrayaan-3 mission.  

In conclusion, the Indian Space sector is an integral part of the “India Story”. Beyond the cosmic expanse, the Indian Space sector’s ascendance has a tangible impact on our lives. The technological advancements and the spin-off technologies have not only fueled economic growth but also has positioned India as a hub for innovation, attracting investments as well as enhancing a culture of scientific curiosity. The emergence and growth of the private sector in the space industry signifies a transformative shift that promises to revolutionize not just India’s space endeavours but also its broader socio-economic landscape. As we navigate through this exciting era of space exploration, it is imperative for policymakers, industry leaders, and the public alike to recognize the pivotal role that the private sector plays in shaping the future of India’s space industry. The private sector’s ascent in the Indian space story represents a paradigm shift-one that holds immense promise for India’s journey to the future frontier.