According to data from Invest India, the Indian_space sector was recently valued at $9.6B, contributing 2%-3% of the global space economy. The size of the industry is expected to reach $13B by 2025, and by 2030, India further aims to capture a larger share of close to 10% of the global economy.
And with a recent announcement to allow full foreign direct investment ownership in satellite-component manufacturing and ease foreign investment rules for satellite building, the industry is set to go on a development spree.
Projections from the World Economic Forum indicate the Government aims to increase India's share of the global space sector to a staggering $47.3B by 2032, which means India is well positioned as a significant player in the coming years.
A world where companies like SpaceX and Blue Origin join forces with India's thriving space ecosystem – it's not just a dream; it's becoming a reality!
Foreign firms planning to build satellites in India would not require government approval for up to 74% of the investment; for investment in launch vehicles, the investment could go up to 49% without such approval.
With India's ambitious spacemissions, including the historic landing near the unexplored south pole of the moon, the nation has captured the world's attention and admiration.
It's no secret that visionary investors are already seeing investment opportunities.
India's relaxed space policies are paving the way for unprecedented investment potential. From satellite manufacturing to launch services, the possibilities are beginning to open up.
With NewSpace India Limited (NSIL) spearheading commercial activities and mandating a $1.2B investment over the next 5 years, the sky's not the limit – it's just the beginning!
But it's not just about the numbers – it's about the vision.
The Prime Minister of India emphasizes the crucial role of the private sector in shaping the nation's space destiny, and over 400 industrial firms, including startups are collaborating with ISRO to bring exponential growth to India's space ecosystem.
And the best part? You can be a part of it by partnering with Enventure. Whether you're interested in satellite manufacturing, launch services, or applications like remote sensing and earth observation, there's a niche waiting for you in India's emerging cosmic playground.