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Indian Spacetech - A Story in Making

India’s spacetech startup AgniKul recently made history as it launched its first rocket. Before we talk more about it, let’s see what’s propelling India’s spacetech startups:

  • 2017 - GoI tabled the Draft Space Activities Bill, 2017, which for the first time acknowledged growing participation of private sector in space technology and opened discussion about commercialising space activities.

  • 2020 - GoI allowed participation of private sector in the entire gamut of space activities and created the IN-SPACe as the single window interface between ISRO and the private sector to use ISRO’s resources for advancing spacetech development.

  • 2023 - The Indian Space Policy, 2023, was approved by the Cabinet, which created a framework to further encourage greater private sector participation in the entire value chain of the Space Economy. In Jul’23, GoI lowered GST from 18% to 0% on satellite services by private players.

  • 2024 - India’s FDI policy liberalised to allow 49% to 100% FDI in Space sub-segments via the automatic route.

 Milestones achieved by Indian Spacetech startups:.

  • In Apr’22, Bengaluru based startup Pixxel, launched India’s first privately made satellite into space carried by a SpaceX rocket. The company plans to make a constellation of 24 of world’s most advanced hyperspectral imaging satellites, which will serve as a “health monitor” for the planet.

  • Hyderabad based startup Skyroot, test launched India’s first private rocket – the Vikram-S in Nov’22.

  • In Nov’22, AgniKul Cosmos, that makes launch vehicles, unveiled India’s first private space vehicle launchpad at Sriharikota, Andhra Pradesh.

  • In Nov’22, Hyderabad based spacetech startup DhruvaSpace, that builds nanosatellites, launched India’s first indigenously developed and privately owned satellite from Indian soil, on ISRO’s rocket.

  • In Jan’24, Pixxel inaugurated a state-of-the-art satellite manufacturing facility in Bengaluru, spread across 30,000 sq. ft.

  • AgniKul Cosmos launched the indigenously designed and developed world’s first rocket with a single-piece 3D printed engine, in May’24.


 

This article is a part of the May'24 edition of our Startup Newsletter. Here's the complete publication:



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