India's space sector sees surge in startups, key to boosting market share to 10% by 2047.

ISRO Chairman S. Somanath highlighted the growing role of startups and the private sector in boosting India's space sector. Since 2014, the number of space-related startups has surged to over 250, attracting Rs 1,000 crore in investments in 2023. India aims to increase its share of the global space market from 2% to 10% by 2047, targeting a market size of $1.5 trillion. The private sector is key in launching small satellites and developing communication systems, among other technologies.

November 29, 2024
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