The launch of Agnikul Cosmos’ Agnibaan rocket marks a significant milestone for India’s space sector, demonstrating the country’s expertise in complex rocket technology using a semi-cryogenic engine. This achievement, along with the developments by other private companies like Skyroot Aerospace and the upcoming Small Satellite Launch Vehicles (SSLV), positions India as a potential global hub for small satellite launches. The Indian government’s commercial arm, IN-SPACe, is playing a crucial role in this growth by establishing a dedicated launch centre at Kulasekharapatnam and promoting private sector participation.
The small satellite market is expected to generate significant revenue, with each launch vehicle potentially valued at Rs. 30-50 crore (approximately US$ 3.60 million to US$ 6.00 million). This could contribute substantially to India’s projected US$ 44 billion space economy by 2033. The new space and foreign direct investment (FDI) policies have received positive responses globally, encouraging foreign investment and business collaborations. India’s space agency is developing a comprehensive Space Law to ensure regulatory framework and solidify the industry’s legal and operational structure as the sector prepares for growth and investment.
