Overview
- India currently conducts six to seven launches per year and operates about 50 satellites in orbit, according to Dr Somanath.
- He urged private firms and state governments to invest rapidly to achieve an annual launch rate of 60–70 missions and expand the satellite fleet to around 500 within ten years.
- Commercial participation could elevate India’s defense space spending from roughly ₹1,000 crore per year up to ₹20,000 crore.
- The 2023 Space Policy’s opening to foreign direct investment and non-governmental entities has triggered a wave of innovation among satellite manufacturers, launch vehicle developers and data service providers.
- India’s low-cost space services and cooperation pacts with 61 countries and five multilateral bodies present new opportunities in African and South American markets.