Watch This 'Space' – India Poised For 'Giant Leap' In Space

Growth Engine

The space sector has experienced unprecedented growth in recent years, fueled by advancements in technology, international collaborations and increasing private sector involvement. Governments and private companies alike are investing heavily in space explorations, satellite technology and space tourism. The space economy is projected to generate over $1 trillion in annual sales by 2040, up from around $370 billion in 2020.¹

The Indian space sector too has experienced rapid growth with over 100 start-ups already active in diverse areas such as building launch vehicles or rockets, designing advanced satellites, space situational awareness solutions.² The country's space market is worth nearly $8 billion, growing at a compound annual growth rate of 4% in the last few years compared to 2% globally.³ The space is also attracting increasing foreign investment including Google's $36 million investment in Pixxel, a satellite-image start-up⁴ and