India Space Industry: Challenges and Opportunities
India’s Space Industry has grown exponentially over the last six decades with considerable expansion in its scope and domain.
Space industry engaged in:
Design and development of launch vehicles.
Development of satellites and related technologies for earth observation, telecommunication & broadband and navigation.
Entering the domain of navigation, meteorology, and space science.
R&D in space sciences.
Planetary exploration like MOM (Mars Orbiter Mission), etc.
Opportunities in Indian Space Sector
Low Cost: The Indian space sector has the potential of launching space vehicles at a much lower cost.
Good past Record: India has so far launched 385 foreign satellites for 34 countries using its Polar Satellite Launch Vehicle platform.
Entry of Young Entrepreneurs: As per industry estimates, there are more than 40 start-ups working in India on space and satellite projects.
Unrealised Potential: As per Satellite Industry Association Report 2022, Indian space industry has high potential in near future.
Challenges for India’s Space Sector
Lower Funding: The funds allocated to the space sector are very less in comparison to other countries.
Absence of a Clear Legal Framework: The draft Space Activities bill was introduced way back in 2017 but hasn’t been passed yet.
Lack of robust Dispute Settlement Mechanism: This discourages private investment in the space sector. The void was seen in Antrix – Devas cancelled satellite deal.
Brain Drain: India produces the best brains in space technology but is unable to retain them. People emigrate from the country for better opportunities and careers that might hamper the development of the space sector.
Challenge in managing Big Constellations of Satellites: Although India has a good potential to launch satellites, managing a huge number of satellites in space could be a challenging task.
Suggestions
The plan to set up an independent tribunal to adjudicate disputes among private space entities should be implemented promptly.
Early passage of the Space Activities Bill should also be done in order to give private players greater clarity and protection. The focus should be on aiding space start-ups and encourage youth to build careers in space applications and sciences.
The country should also enhance spending towards the sector considering the huge future potential and robust returns on investment.
