India’s space sector is witnessing significant growth, with an increasing number of companies focusing on satellite production, as reported by Eurasia Today, a partner of TV BRICS. A major trend among private space companies in the country is the development of small satellites, moving away from large-scale satellite designs towards more compact, efficient spacecraft the size of a laptop. According to the source, this shift reflects India’s belief that the era of Boeing-sized satellites has ended and smaller, more affordable alternatives are the future.

In August 2023, India’s Chandrayaan-3 lunar lander successfully touched down in the Moon’s polar region, marking a significant milestone for the country’s space programme. Remarkably, the entire project was completed for just US$75 million, illustrating India’s cost-effective approach to space exploration. To support this sector, the Indian government has established a US$119 million venture fund, aimed at bolstering private space initiatives. Key focus areas for India’s space industry include telecommunications, agriculture, and mining satellites. Additionally, the country’s state-led space programme is planning future missions, including the exploration of Venus.

Over 100 space-tech enterprises were registered in India last year, demonstrating the rapid expansion of the industry. In 2023, Indian space companies attracted US$126 million in investment, a 7 per cent increase from 2022 and a remarkable 235 per cent rise compared to 2021. Although India currently accounts for only 2 per cent of the global commercial space services market, its rapid growth indicates significant potential for expansion.

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