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States' race for space investment may help sector hit $44 bn by 2033

This follows the opening up of space to private participatio­n in June 2020, the Indian Spa­ce Policy of 2023, and a luc­­r­ative foreign direct investment policy of February 2024 Shine Jacob Chennai Listen to This Article Space in the new frontier for states in the one-upmanship game to draw investment. On April 17, Gujarat annou­n­ced a long-term strategy to accelerate growth in the space sector from 2025 to 2030. With­in hours, Tamil Nadu, which had already published a draft space policy, unveiled the Tam­­il Nadu Space Industrial Policy. There is a reason states are betting big on space and space-related technology. The size of India's space sector is expected to jump from around $8.4 billion in 2024 to $44 billion by 2033, according to a Mar­ch report by the Federation of Indian Cha­m­bers of Commerce and