India's Ambitious Launch: Redefining Commercial Space Ventures

India is targeting commercial space ventures, focusing on manufacturing small satellites and providing cost-effective data services. With global competition, India plans to leverage its expertise in data mining. Emerging Indian space companies aim to fulfill growing demands, with government support being crucial for further expansion and international competitiveness.

India is making strategic moves into the burgeoning commercial space sector, focusing on building small satellites and offering affordable launch services, officials announced. Instead of challenging giants like SpaceX, the country aims to leverage its strengths in data services across industries such as agriculture and communications.

The global market for satellite launches is expected to reach $14.54 billion by 2031, while data services associated with space technology could be worth $45 billion by 2030. Emphasizing small satellite technology, India has a historical edge in data management, although it faces stiff competition from nations like Japan and China.

India's space industry has seen increased private investment and government support, with companies such as Infosys and Google-backed Pixxel diving into the market. However, India's market share remains at approximately 2%, necessitating further expansion and international partnerships to compete effectively against well-established players globally.

(With inputs from agencies.)