Pawan Goenka's big prediction: Here's why India's space sector will become the world's envy by 2029

Undoubtedly among India’s many achievements in 2023, the success of the Chandrayaan-3 mission is a high point. India became the first country to land near the moon’s South Pole, and the fourth country to soft land on the moon. This success put India’s capabilities in space technology in the global spotlight.

Even as Chandrayaan-3 symbolises the new India raring to make its mark on the global space sector, there is a huge transformation taking place with space emerging as a sunrise sector in India. The Indian Space Research Organisation (Isro) continues to be a beacon of innovation, but the game changer in future will be through the participation of the country’s private sector.

The past year has already seen a slew of announcements and initiatives by the government to strengthen the private space ecosystem. The creation of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) ignited the non-government entities (NGEs), creating a much-needed support system to participate in India’s space economy. The much-appreciated Indian Space Policy 2023 laid the foundation for a structured and dynamic space sector, encouraging private sector participation in a range of activities from manufacturing rockets and satellites, launching them, operating earth stations, and disseminating satellite data to developing downstream space applications.

The year saw IN-SPACe implement multiple initiatives to encourage and handhold the private sector. The seed fund scheme for start-ups, pricing support policy, mentorship support, transfer of Isro technology to the private sector, design lab with simulation software and testing facilities for space objects, international outreach platforms for NGEs, and skill development are some of the key initiatives to encourage innovation and develop space capabilities of NGEs.

The result of these efforts is visible with the number of space start-ups now nearing 200 and investment in these start-ups increasing from $6 million in 2019 to $125 million in 2023. We are witnessing a growing interest from foreign players in Indian start-ups as well as legacy space companies. With the revised FDI policy that is around the corner, we should see higher investments in the space sector in the coming years.

The year also saw the unveiling of an ambitious decadal vision and strategy for the Indian space economy. We have set an aspiration for the Indian space economy to reach $44 billion by 2033, from $8.4 billion now and from a 2% share in the global space economy to 8% by 2033. NGEs are at the heart of this vision with a focus not just on technological advancement but also on making space technology accessible and affordable for a wider societal impact.

Some of the key milestones that I personally would like to see by 2029 in India are:

1. Dedicated manufacturing clusters, supported by states, with plug-and-play facilities for producing small satellites, payloads, launch vehicle subsystems, ground station equipment and subsystems catering to the global market requirements. The next few years should see India evolving into a significant global supplier, with active participation from Isro’s vendors and new space start-ups, by integrating into the global supply chain for space systems.

2. Currently all GSO communications satellites are either owned by Isro/NSIL or by foreign companies. We would like to see the Indian private sector participate in the huge expansion of the need for communication satellites.

3. An Indian Earth Observation (EO) constellation, being managed and operated by private players.

4. A global data processing and dissemination platform managed by Indian private players.

In the coming years, as the space data requirement increases exponentially, attaining Atmanirbharta in space data will be a strategic and commercial imperative. Currently, a large chunk of our space data requirement is being met from foreign satellites, which should gradually shift to Indian sources. And both the EO constellation platform and data processing platform will be an essential step towards Atmanirbharta in space data and data products.

5. Complete digital connectivity, even in the remotest parts of the country, made accessible and affordable through satellite broadband. Bringing high-speed internet to the remotest parts of the country through satellites will catalyse socio-economic development, offering opportunities for education, healthcare, and economic change in previously inaccessible regions.

6. India to become a global hub for the launch of small satellites with at least three small launch vehicles owned and operated by private players and the spaceport in Kulasekharapattinam, Tamil Nadu, providing the required launch infrastructure.

7. Downstream applications developed by NGEs with the use of space data and images. These can be to monitor changing climate, extreme weather, use of natural resources, address challenges in agriculture, clean energy, drinking water, tele-education, telemedicine, and much more, thereby creating new economic opportunities in the country.

Apart from this, Isro will continue to make great strides in the research and development of next-generation space technologies and carrying out interplanetary missions for space exploration, taking Indian presence deep into space from the moon to Venus and more.

The next five years promise to unveil a new era in the Indian space sector, where the focus is not just on technological advancement but also on global collaboration, on leveraging space for socio-economic benefits and on inclusive growth.

The integration of policy reforms, private sector dynamism, and technological advancements will position India not just as a participant but as one of the leaders in shaping the future of global space endeavours!

 

The author is Chairman of IN-SPACe. Views are personal