Accelerating Growth of India’s Space Sector

13 Sep 2023

India’s space exploration prowess has recently reached new heights, with the landing a rover near the South Pole of the Moon and launch of India’s first solar space observatory mission, Aditya-L1. This remarkable feat symbolizes the excellence and determination of Indian Space Research Organisation (ISRO) and the Indian space Industry at large. India has achieved remarkable progress in the space sector in recent past. The country has witnessed a series of success stories. Just in 2022, 36 OneWeb satellites were put into orbit by LVM3 launch vehicle and ISRO’s work horse PSLV-C54 launched EOS-06 satellite along with eight nanosatellites into two different Sun Synchronous Polar Orbits (SSPOs).

With its recent achievements, India has firmly established itself as a space power, boasting end-to-end capabilities and launching satellites not only for its own purposes but also for countries worldwide. Valued at USD 9.6 billion in 2020, accounting for approximately 2 per cent of the global market share, India’s space sector is poised to become a hub for space commerce across various Industries.The size of the sector is expected to reach USD 13 billion by 2025, and by 2030, the country aims to capture a share of close to 10 per cent of the global space economy.

Policy Intervention: A Catalyst for Private Participation

The enabling policy intervention by the Government of India can also be credited for the accelerated growth of the sector. India’s commitment to expanding its presence in space is evident through the recent approval of the Indian Space Policy 2023, encouraging greater participation of private players in the space sector and creating a thriving ecosystem for innovation and collaboration.

The Government also launched Indian National Space Promotion and Authorisation Centre (IN-SPACe), a single-window, independent, nodal agency to enable and facilitate the participation of private players. NewSpace India Limited (NSIL), a public sector company, was also formed to commercially exploit the products, technical consultancy, and transfer of technologies developed by ISRO. This focus on the space sector has led to the growth of many startups focused on space-related areas, along with medium and large companies, all eager to create new business models, innovative technologies, and better products for the sector. Collectively, these initiatives and developments will play a crucial role in accelerating the growth and global competitiveness of the Indian space Industry.

International Conference on Space

The Confederation of Indian Industry (CII) has always been at the forefront of efforts to enhance the engagement of the Indian Industry in the space sector. Recognizing the potential for international partnerships in India’s space endeavours, CII has actively promoted collaborations in this sector. To foster an enabling ecosystem, CII, with the support of Department of Space, ISRO, IN-SPACe and NSIL, is organizing the International Conference on Space on 14 – 15 September 2023 at Taj West End Hotel in Bengaluru.

This year, the conference holds special significance as it coincides with India’s G20 Presidency and CII being the B20 Secretariat. As a B20 Secretariat, CII has given a special focus to Space. The conference is being organized with a multifaceted purpose: facilitate knowledge exchange, promote international collaboration, showcase India’s potential, drive research & development and innovation, deliberate on policy framework and explore business opportunities. Notably, Australia is the guest country for the conference this year.

Key Highlights

• 10 Technical, Policy, and Strategy Panel Discussions: These discussions will provide a platform for experts to share insights, explore challenges, and identify opportunities in the space sector.

• Release of CII-Deloitte Report on Indian Space Ecosystem: The report will offer a comprehensive analysis of the Indian space ecosystem, shedding light on its strengths and areas for growth.

• Release of Indian Space Standard developed by INSPACe and BIS: These standards will be the guiding point for the private sector and tech players in procurement, manufacturing and operations.

• Delegates from Australia, Russia, Japan, and Singapore will also attend the conference. This represents the global interest in India’s space Industry and the potential for international collaboration.

India’s space Industry has come a long way since the first steps in the sector in 1962. With a skilled workforce, robust infrastructure, and a commitment to innovation, India is well-equipped to spearhead advancements in space exploration, satellite technology and space-based applications. India’s remarkable achievements in space technology and a burgeoning private sector position the nation as a strong contender to take a leading role in the global space Industry.

As we envision its boundless potential, it’s clear that continued deliberations and collaboration, like those envisioned for the upcoming International Conference on Space, will be essential in addressing the challenges of each phase of development and propelling India’s space Industry toward an innovative and exploratory future.

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