New Delhi, July 18 (IANS) India’s space sector is witnessing unprecedented growth driven by a series of government reforms that have opened the space ecosystem to private participation, with more than 400 space startups now operating in the country compared to just one in 2014, the government said on Saturday. The government said the transformation is being demonstrated by Skyroot Aerospace’s upcoming Vikram-1 mission, which will become India’s first privately developed orbital launch vehicle.The launch, scheduled under Mission Aagaman between July 12 and August 4, is expected to validate the country’s indigenous commercial launch capabilities while highlighting the success of the Indian Space Policy 2023.According to the government, the Indian Space Policy 2023 has opened the entire space value chain to Non-Government Entities (NGEs), enabling private companies to participate in satellite manufacturing, launch services, space applications and downstream services. The policy aims to promote innovation, attract investment and encourage international collaboration for the peaceful exploration and commercial use of space.

The government said India’s space economy, currently valued at around $8.4 billion, is projected to grow nearly five-fold to $40-45 billion by 2030 and further expand to $100 billion by 2040 through sustained policy support, enabling regulations and stronger public-private partnerships.Developed by Skyroot Aerospace, Vikram-1 is capable of placing payloads of up to 350 kilograms into Low Earth Orbit (LEO). Built using an all-carbon composite structure, solid-fuel boosters and a 3D-printed liquid engine, the launch vehicle represents a significant milestone for India’s private space industry.The maiden mission will deploy multiple customer payloads into a 450-kilometre orbit, including Skyroot’s SCOPE satellite, DCUBED’s technology demonstration payload, Grahaa Space’s SOLARAS S3 satellite and Cosmoserve Space’s Embrace robotic arm designed to capture orbital debris.The flight will also carry symbolic payloads, including a floral-shaped artwork named "Cosmic Bloom" and an 18-karat gold micro-rocket featuring microscopic sculptures of scientists C.V. Raman, Vikram Sarabhai and A.P.J. Abdul Kalam.

The government said the Indian National Space Promotion and Authorisation Centre (IN-SPACe), functioning as an autonomous single-window agency, has played a key role in enabling private participation by providing a stable regulatory framework and facilitating access to ISRO facilities and expertise.As of June 2026, IN-SPACe had registered more than 4,500 organisations, issued 133 authorisations and signed 106 Memoranda of Understanding. It also facilitated USD 150 million in investments into Indian space startups during calendar year 2025, while the top 10 startups secured confirmed order books worth the same amount.

/IANS