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The Hindu
07-05-2025
- Business
- The Hindu
Expanding space economy: new study calls for evidence-based policies, supportive regulations
A new study on India's space economy has called for 'evidence-based policies' for expanding the space sector and the creation of enabling environments for private players, public-private partnerships and innovation through supportive regulations. A research paper highlighting the findings, 'Space economy of India, its impact on the rest of the economy' published in the journal Space Policy (Elsevier) observed that increasing private-sector involvement in the Indian space sector has triggered 'significant growth and transformation' in recent years, a change that is reflected in employment trends as well. While the number of private space companies in India has jumped from a mere 11 in 2019 to over 400 in 2024, the funding for private space companies touched $124.7 million in 2023, up from $67.2 million in 2021, noted the paper by Sunil Mani of the Centre for Development Studies (CDS); V.K. Dadhwal of the National Institute of Advanced Studies, Bengaluru; and C.S. Shaijumon of the Indian Institute of Space Science and Technology (IIST). 'Remarkable expansion' 'The private space sector in India is undergoing remarkable expansion, fuelled by a combination of well-established corporations and a burgeoning number of innovative start-ups. This vibrant ecosystem is being shaped by close collaboration with the Indian Space Research Organisation (ISRO), leading to unprecedented levels of technological advancement and job creation across the industry,' the paper noted. Consequently, the demand for senior leadership positions in the private space sector is up. 'Companies are seeking executives with specialised skills in spacecraft design, launch vehicle development, ground station management, remote sensing, and space policy,' it noted. On the one hand, the space sector opens up new revenue streams and direct and indirect avenues for jobs within the industry as well as in local and regional economies. On the other, it helps improve efficiency, social inclusion, cost avoidance in the economy, and monitoring environmental impacts. The authors noted that in 2020-21 India's space economy was valued at approximately ₹38,700 crore, representing 0.20 % of the Gross Domestic Product (GDP). Though modest in scale, it nonetheless has a disproportionately large developmental and socioeconomic impact, they observed. 'As public and private investments grow, these impacts are expected to deepen and diversify, reinforcing the strategic and economic relevance of space as a driver of India's inclusive growth and technological progress,' the paper said. The findings come against the backdrop of the Union government opening up the space sector to private players and the Indian Space Policy 2023. The present study, the authors said, was intended to address 'several of the analytical and empirical gaps' in existing literature on the space economy. They underscored the need for 'updated and comprehensive' analyses of the space economy to guide future policies and strengthen India's status in the global space arena.
Indian Express
06-05-2025
- Business
- Indian Express
India's space sector created 22,000 job in last decade, positively contributed to economy: study
A marked increase in homegrown space startups, industries manufacturing space-qualified products, and a growing reliance on satellite-based services have all positively impacted India's economy, a new study has found. It also said the space sector has contributed to the country's employment and overall social development. The study, titled 'Space economy of India, its impact on the rest of the economy', published in the journal Space Policy enlisted the creation of around 22,000 new jobs in this sector in the past decade. In 2020–21, the space sector contributed a modest 0.19 per cent of India's Gross Domestic Product (GDP), but this share has been rising, as per the study. Monetarily, the New Space India Limited (NSIL), the commercial arm of the Indian Space Research Organisation (ISRO), generated a revenue worth Rs 2,940 crore in 2022-2023, the study noted. The year-on-year increment in the revenue is estimated to remain around 24 per cent, said the study authored by experts from the Indian Institute of Space Science and Technology, Thiruvananthapuram; Centre for Development Studies, Thiruvananthapuram; Ahmedabad University and National Institute of Advanced Studies, Bengaluru. Policy-level changes with the introduction of Space Activities Policy 2023 and the establishment of the Indian National Space Promotion and Authorisation Centre (In-SPACe), too, created a positive shift in the way the space economy has shaped in recent years, according to the study. According to the study, with more countries turning into private players for venturing into space, employment generation holds potential even in India. 'Private space startups are attracting substantial investments, generating revenue through satellite manufacturing, launch services and space-based applications. Sectors like telecommunications, agriculture and navigation have benefited from satellite services, enhancing their operational efficiency and productivity,' said the study. In India, the number of homebred space startups went from one to 229 from 2014 mid-2024, and they are believed to employ about 2,500 people at present. ISRO has remained the primary driver of space-related activities in India and the space agency directly employs over 17,000 people. The overall employment covering the broader space industry is estimated to be 45,000–50,000. India's space economy covers manufacturing, operations and applications. The space manufacturing segment includes the production of launch vehicles, satellites, spacecraft subsystems, scientific instruments and ground equipment. Space operations encompass launch services, satellite operation and brokerage, ground station management, in-orbit servicing, space surveillance, debris removal, space tourism, in-space manufacturing and the operation of spaceports. Space applications cover services like direct-to-home broadcasting, satellite communications, location-based services, satellite data processing and downstream applications using satellite signals. According to the study, some of the key emerging areas in this sector include deep exploration missions, greater involvement of private players and international collaborations. Even with modest spending with respect to the country's GDP, the space sector holds immense potential and far-reaching and multi-sectoral reach, the study said. Improvements brought through satellite-based services and geographical information services-based tools are immensely benefitting sectors like agriculture, disaster management, national security, weather forecasting, urban planning, energy planning, navigation, infrastructure development, land management and more, it said. The researchers said the technological innovations and spillovers to sectors also added to the overall contribution to the economy.
