INDIA'S CLIMB TO TOP: PAVING THE WAY FOR SPACE INDUSTRIALISATION

Copyright infringement not intended Picture Courtesy: Economics Times Context: The Indian space sector success paving the way for space industrialization. Space Industrialization Growing Capabilities   With the success of Chandrayaan-3 mission, India became the fourth country to soft-land on the Moon. This mission highlighted India’s cost-effective approach. India launched Aditya-L1, its first solar observatory, and is preparing for the Gaganyaan mission to send Indian astronauts to space by 2025. Government Promoting Private Sector Participation The government introduced the Indian Space Policy 2023, which allows 100% FDI in satellite manufacturing and ground infrastructure. It established IN-SPACe as a single-window regulator to streamline approvals for private players. The government offers GST exemptions on satellite launches and has set up a ₹1,000 crore Venture Capital Fund to support space startups. Current Status of Space Economy The Indian spa...