What slowing of the rocket of India in the space economy? The new report says …

The lack of a solid legal framework around the governance and use of space technology remains a huge challenge, because India tries to become a nation of distribution of the first -rate space, a new report said.

“Unlocking the Space Economy of India”, launched on Wednesday at Bharat Space Conclave – 2025 in New Delhi and prepared by EY (former Ernst and Young) and the Federation of Indian Chambers of Commerce and Industry (FICCI) says that “regulatory and political constraints” remain, because there is no “act of space”. The 50 -page ratio highlights the fact that there are “gaps” in terms of liability and insurance regarding the space activities in India and indicates “multiple overlaps of the agency”, which could slow down decisions in this rapid change.

The report also identifies other challenges that prevent growth, which include “high dependence on imported space components” and India dependence on “limited launch sites” – all rocket launches occur only from Satoh Space Center from Sriharikota, and a second launch port in Tamil Nadu is still a few years.

The document shows that India has captured only about 2% – about $ 8.4 billion – on the global space market, while China has already sprouted 13% – 80 billion – and the US remains the world leader at $ 250 billion and 40% of the global action.

A previous report of the Indian government has estimated that India can increase its space economy to about $ 44 billion by 2033. Today, there are over 250 startups of the private space and, along with the Indian research organization (ISRO), all are trying to ensure a sunny place in the space economy, which will be worth $ 2035.

Encouraging innovation

The report of Ficci and EY notes that a significant change is carried out, the space sector of India evolving from a model led by the government to an ecosystem led by innovation led by innovation. Satellite communication (Satcom), designed to reach $ 14.8 billion by 2033, will play a critical role in extending digital connectivity, especially in rural and underestimated regions. The increasing use of the observation of the Earth and the remotedecting satellites, estimated to contribute by $ 8 billion by 2033, already transforms agriculture, disaster management and climate resistance.

During the launch ceremony, Dr. Pawan Kumar Goenka, president, the Indian national space promotion and authorization (INPPAC), said that investments in the space sector could be well over 50,000 RS in the next decade. He stressed that 52 surveillance satellites will be launched, 31 which will be made by the Indian private sector and it is estimated that 60 units of the Mark-3 launch vehicle or the “Bahabali” rocket will be made by India. This is in addition to Rs 35,000 crores that the government infuses in Isro for Gaganyaan programs and Indian space station. “The space sector in India moved to the speed of missiles,” Mr. Goenka stressed.

The report also identifies the “financing gaps” and Pankaj Khurana, which led the study, said that India invests only 0.07% of its GDP on its space budget, compared to 0.28% of the US. So, the US spends four times more and yet they get more than thirty times higher than India. However, its economy is much larger.

“A new draft law on space activities has already been developed,” said Dr. Goenka, but said it is difficult to give a chronology, because inter-ministerial and parliamentary consultation is a complex process. He also stressed that no company in the private sector is requested to take the compulsory civil liability insurance in the space sector. In providing an optimal perspective, Dr. Goenka added “no activity stops in the absence of space law”.

Sharing his sincere evaluation, Mr. Khurana said: “The space trip in India is no longer a distant dream, it is a reality that takes place … but the ambition must be suitable with the action.”