India’s space economy is currently valued at around Rs 6,700 crore ($8.4 billion) with a 2 per cent share in the global space economy. However, as per the Indian National Space Promotion and Authorisation Centre (IN-SPACe), it is estimated that the country’s space economy is poised to reach Rs 35,200 crore ($44 billion) 2033 with nearly 8 per cent of the global share.
Clint Crosier, Director of Aerospace and Satellite at AWS, expressed his optimism about India during the sidelines of the ‘AWS re: Invent 2023’ conference. He noted a faster rate of space startups being established in India over the last year, attributing this growth to new government policies and investments. Crosier emphasized that AWS has witnessed the establishment of many new space startups in India and highlighted the goal to increase the country’s share of the global space industry four times.
In September, AWS signed a strategic Memorandum of Understanding (MoU) with the Indian Space Research Organization (ISRO) and IN-SPACe to support space-tech innovations through cloud computing. This collaboration aims to provide space startups, research institutes, and students access to cutting edge cloud technologies to accelerate the development of new solutions in the space sector.
Shalini Kapoor, Director and Chief Technologist of Public Sector at AWS India and South Asia, expressed the company’s commitment to helping customers in India build space-tech solutions to benefit life on Earth.
The recent approval of the Indian Space Policy, 2023 provides a strategic roadmap for the growth and development of India’s space programme and ambitions. Crosier emphasized that AWS is working with Indian startups and government organizations to help improve their capabilities in the space sector, highlighting the collaboration with a company called SatSure, which focuses on using space-based data and geospatial analytics to aid climate management decisions within the Indian government.
With at least 140 registered space-tech startups, India has the potential to transform the planet’s connection to the final frontier. Startups in India are capitalizing on the burgeoning demand for small satellites in low-earth orbits. Companies like Skyroot Aerospace, Dhruva Space, and Pixxel, are actively working with ISRO, as the government has opened up the space sector for private players.
During Prime Minister Narendra Modi’s state visit to the US in June, the White House called for enhanced commercial collaboration between the US and Indian private sectors in the entire value chain of the space economy. Crosier observed great momentum in the spacetech sector during his recent visit to India, highlighting continued meetings with Indian startups to understand their problems and explore how cloud-based tools can solve some of their challenges.