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:
