India is looking to become a new power in the space sector, with government space programs and opportunities for private companies. The Indian government has adopted a document called “India Space Policy 2023,” which seeks to strengthen the role of the Department of Space, boost initiatives of the Indian Space Research Organization (ISRO), and promote greater involvement of academia and business. Since the Indian government allowed full development of private companies in 2020, some 150 companies have started participating in ISRO missions.
In recent months, India has realized several successful domestic space projects, such as the launch of the first Vikram-S space rocket, built by the private company Skyroot Aerospace, and the launch of 36 satellites by the British company OneWeb via the Indian LVM3 rocket. Experts predict that by 2025, India will produce $3.2 billion worth of satellites, compared to $2.1 billion in 2020, and the cost of launch services will increase by almost 84.5% compared to 2020.
According to analysts, India may be a better partner than China for Western countries in launching space objects, as its satellite operators may fear that China may gain access to Western technologies. In addition, India has a large-capacity launch vehicle that is inexpensive, something China and Russia do not have. NewSpace president Durairaj Radhakrishnan stresses that the demand for space launches is “very large” and that more heavy-lift launchers will be needed.