Govt reforms, private partnerships behind Indian space industry growth in 2024: ISpA [Video]

Reforms made by the government coupled with private partnerships played a crucial role in the growth of India’s space industry in 2024, said the Indian Space Association (ISpA), noting that 2025 is poised to be a year of transformative developments.

Lt. Gen. AK Bhatt (Retd), Director General, ISpA stated that government reforms like the Foreign Direct Investment policy, the Rs 1,000 crore Venture Capitalist fund, and a thriving startup ecosystem, coupled with dynamic public-private collaborations propelled space sector growth.

“The Indian government’s continued focus on strategic policy reforms not only opens the door for significant private sector investment but also ensures that India stays at the forefront of global space innovation. With the continuous support from the government and the push for the public,” Bhatt said.

“The private space sector is witnessing a major growth in the startup ecosystem driven by favourable policy reforms like the liberal FDI policy announced …