Commercialization of Indian Space Industry
With the launch of LMV3 and Vikram-S, India is inching its way into the commercial launching market. Skyroot Aerospace Private Limited has designed and manufactured the Vikram suborbital rocket, which launched on the 18th of November, 2022. Such privatizations in space research and launching of space vehicles and satellites are a positive step for the Indian Space Programme.
India does have a multitude of organizations such as Antrix Corporation Limited (ACL), New Space India Limited (NSIL), Indian National Space Promotion and Authorization Centre (IN-SPACe), and several other public sector undertakings such as Hindustan Aeronautics Limited. Despite this, India accounts for only 2 percent of the total world space economy. Increased privatization should thus be encouraged in the space industry.
The need for involvement of the private sector is diverse:
- The increase in forex earnings. ISRO earned an estimated 280 million USD by launching satellites for other countries. Privatization could mean a further increase in that number.
- This would reduce the cost of space missions and technologies, as seen in Vikram-S case.
- There are strategic benefits as well.
The use of space technology in warfare can be an advantage, and increased investment by the private sector would surely boost it. Also, this would encourage many start-ups and potential investors and thus encourage more innovation in this field.
The Indian space sector is, however, in a unique position. It has immense potential to be a superpower in the space economy. Due to its reliable history and extensive capabilities in terms of technology and manpower, India is a gold mine for investors. Favorable Government policies and good foreign relations encourage foreign investors, thus propelling the industry.
That being said, there are challenges to privatization. The space industry requires a significant capital investment, which is hard to find. Further, there are no specific laws in India regarding the space industry.
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Image credits: ISRO
- Namitha( MS22118)
Nicely done Namitha.
ReplyDelete"Indian Space Research Organisations' heaviest rocket LVM3-M2 on its maiden commercial mission on 23rd October successfully placed 36 broadband communication satellites of a UK-based OneWeb into the intended orbits, the space agency said, describing the mission as 'historic'"said outlook.Nowaday we are growing as the first choice for private companies like OneWeb Ltd .
OneWeb Ltd is the UK-based customer of NewSpace India Ltd (NSIL), ISRO's commercial arm, and a global communication network powered from space, enabling internet connectivity for governments and businesses. Bharti Enterprises is one of the major investors in OneWeb.