NewSpace: India perspective has been saved
NewSpace: India perspective
Space exploration has always captivated the human imagination, pushing the boundaries of what we thought was impossible. Over the years, the Indian Space Research Organisation (ISRO) has steered a path of audacity and exploration, orchestrating a symphony of achievements that have captured the world's attention. In the past few years, a new era has emerged in the space industry known as NewSpace. The Indian space sector's odyssey has been a remarkable transformation, with each milestone charting an ambitious trajectory and pushing the frontiers in space.
From its humble beginnings of launching sounding rockets in the 1960s to its current global space exploration initiatives (such as Chandrayaan-3 and Mangalyaan missions), the Indian space sector's evolution is a testament to India's technological prowess, strategic vision, and unwavering commitment to technological advancement and innovation.
This handbook, NewSpace: India Perspective, depicts the state of the Indian space sector in the NewSpace era. Through this handbook, we uncover the essence of NewSpace—a paradigm driven by technological leaps and global dynamics.
It further lays out a series of critical “Call to Actions” that intertwine seamlessly to drive growth and innovation. From fostering private-public partnerships to optimising tax initiatives and policy reforms (through schemes such as PLI and customs exemptions), each action contributes to a dynamic ecosystem. Strengthened collaborations with academia and a comprehensive assessment of current space capabilities further pave the way for self-reliance and competitiveness. Standardising market size estimates and benchmarking global initiatives form the cornerstone of this transformative journey, ensuring that the Indian Space Policy 2023 remains adaptive and impactful.
The NewSpace era in India has taken off and is accelerating: Deloitte- CII reportread