New Era for India's Private Space

India's private space sector achieved a historic milestone as Hyderabad-based startup Skyroot Aerospace successfully launched its Vikram-1 orbital rocket under the 'Agaman' mission. The successful mission made India the third country, after the United States and China, to have a private company place an orbital rocket into space. The achievement marks a significant leap for India's commercial space ambitions and demonstrates the growing capabilities of the country's private aerospace industry.

The success of Vikram-1 is expected to accelerate investments, satellite launch opportunities and global partnerships for Indian space startups. Government reforms, the Indian Space Policy 2023, increased private participation, FDI liberalisation and support from IN-SPACe have transformed the ecosystem, with more than 400 space startups now operating in the country. Analysts estimate India's space economy could grow from nearly ₹86,000 crore today to ₹3.85 lakh crore in the next decade and touch ₹9.6 lakh crore by 2040, with companies such as Skyroot, Agnikul, Pixxel, Dhruva Space and Bellatrix Aerospace driving the next phase of growth.