Enhancing India's Ability in Satellite Production: Overcoming Obstacles and Capitalizing on Prospects
India is set to open its doors for foreign partnerships in the satellite manufacturing and operation sector, following the liberalization of Foreign Direct Investment (FDI) in 2024. This move is expected to drive growth in the Indian space industry, as Indian companies collaborate with international players to create niche satellite technologies.
The Confederation of Indian Industry (CII) is spearheading India's vision of enhancing the engagement of Indian Industry in the space technology sector. The organisation is dedicated to encouraging Indian industry's participation to boost indigenous capabilities, build capacities, and advance technologies in the space sector.
India's satellite manufacturing sector plays a significant role in the country's anticipated space growth. With a competitive edge in cost-effective satellite production and ongoing technological advancements, India is moving towards becoming a global hub for satellite manufacturing, particularly for small and nano satellites.
Hyderabad-based Dhruva Space has already made strides in this area, producing and deploying domestically designed and manufactured small satellites, Thybolt-1 and Thybolt-2, through ISRO's PSLV C54. Bengaluru-based Pixxel has also demonstrated India's ability to create high-resolution Earth observation satellites for global customers.
The Indian government's policies, technological innovations, and the increasing involvement of public and private players are supporting this trajectory. India is among the top five spacefaring nations with a space economy valued at USD 8.4 billion.
To further bolster this growth, CII is organizing a roundtable on "Boosting India's Capability in Satellite Manufacturing: Navigating Challenges and Unlocking Opportunities" in Bengaluru on 26th November 2024. The roundtable aims to foster productive discussions, gather insights from industry leaders and startups, and shape actionable recommendations to present to relevant authorities.
Participating companies at the roundtable include ISRO, Tata Consultancy Services, Larsen & Toubro, and Mahindra Defence, with recommendations to be presented by senior executives from these organizations and government representatives from the Department of Space.
CII is also focusing on expanding domestic demand for space technology to support and further strengthen the ecosystem for space startups in India. The space economy in India is projected to grow to approximately USD 44 billion by 2033.
For more information about the roundtable, please contact [email protected]. With these initiatives, India is poised to make significant strides in the satellite manufacturing sector and contribute to the global space industry.
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