New Delhi, Aug 23 : As India commemorates National Space Day on August 23, experts from the countryâ??s space industry on Sunday said the next phase of Indiaâ??s space journey will be driven not only by launch and satellite capabilities but also by the rapid expansion of downstream applications, private participation and satellite-based services.

Lt. Gen. AK Bhatt, Director General, Indian Space Association (ISpA), said Indiaâ??s private space ecosystem has travelled a remarkable distance in a relatively short period and is now witnessing capabilities translate into real market opportunities.

He said India is emerging as a full-stack space economy, with growing strengths across launch, satellite infrastructure and a range of downstream applications.

"India is emerging as a full-stack space economy, with growing strengths across launch, satellite infrastructure and a range of downstream space applications," he said.

"Recent successes by private space companies have demonstrated Indiaâ??s ability to build capabilities at a globally competitive level, sending an important signal to investors and international partners that Indian space companies can move from innovation to execution and scale," Bhatt mentioned.

He attributed the progress to a strong public-private partnership involving ISROâ??s technological expertise, progressive policy and regulatory reforms, and the execution capabilities of a new generation of private companies.

Krishanu Acharya, CEO and Co-Founder of Suhora Technologies, said Indiaâ??s private space story has largely been associated with rockets and launch vehicles, but downstream applications could emerge as the more sustainable growth engine for the sector.

"As more satellites reach orbit, that raw data only becomes valuable once it's converted into usable insight, and that's where downstream players will increasingly drive revenue for India's space economy. We see this as the layer where India can build lasting, exportable expertise, not just supporting domestic capability, but competing globally in analytics and applications built on space data," Acharya mentioned.

Gautam Sharma, Managing Director, Viasat India, said Indiaâ??s progress towards becoming one of the leading spacefaring nations has been significant and highlighted the role of the government and ISRO in creating a world-class space ecosystem through public-private partnerships.

/IANS