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India's space tech ecosystem soars to new heights in 2022, expects over $300 million in investment in 2023

The industry is also anticipating the implementation of a new space policy in 2023, which will further open up the ecosystem.

December 26, 2022 / 10:24 AM IST
Representative Image

Representative Image

The Indian space tech ecosystem had a historic year in 2022, with the country recording its first private rocket launch and multiple other satellite launches by private players, capturing not only the subcontinent's but also the world's attention.

The industry is expecting to ride this momentum going into 2023, and is expecting around $300 million in private capital investment, multiple orbital launches of rockets apart from satellites, and the implementation of the new India Space Policy, which will further open up the ecosystem.

The year that was

Overall, 2022 was a landmark year for the space tech ecosystem, with the launch of the first Indian-made satellites authorised by IN-SPACe and the establishment of the first privately-owned rocket launchpad by Agnikul Cosmos.