Elon Musk, the CEO of SpaceX and tech visionary, is set to meet with India's burgeoning space tech startups during his first-ever visit to the country on April 22.
Following a recent visit by Indian startups to SpaceX's facilities in the US, companies including Skyroot Aerospace, Dhruva Space, Piersight, and Digantara, Satsure (and its subsidiary KaleidEO), GalaxEye have been invited by the government for discussions with Musk in New Delhi.
While details of the agenda remain under wraps, Moneycontrol has learnt that Musk is expected to speak to the startups to learn more about their innovations and offerings. Additionally, these startups are expected to present showcases of their technologies to the SpaceX chief.
Space tech startups have a meeting scheduled with the space regulator, the Indian Space Promotion and Authorisation Centre (IN-SPACe), on April 17. During this meeting, the regulator is expected to provide further details about the meeting with Musk.
Earlier in March, as part of the International Visitor Leadership Program (IVLP), IN-SPACe took several space tech startups, including Digantara, Skyroot Aerospace, Dhruva, Piersight, and others, to meet prominent US tech businesses. One of these meetings included a visit to SpaceX's facility. The startups did not meet Musk during this visit.
Over the past few years, Jeff Bezos' space technology company, Blue Origin, has engaged in discussions with several Indian startups and the government to explore manufacturing partnerships. The most recent meeting took place on the sidelines of the Indian Space Congress in 2023.
Sources Moneycontrol spoke do not expect the upcoming Musk meeting to be as targeted as the one by Blue Origin. "This will be much more explorative in nature," said a source.
The upcoming meeting gains significance as SpaceX's Starlink, a satellite communication internet service, eyes an entry into the Indian market. Moneycontrol previously reported that the Indian government has expedited the process of allocating the necessary licenses to Starlink.
The Indian space sector has witnessed significant policy reforms, including the release of the Indian Space Policy in 2023 and relaxed foreign direct investment (FDI) norms. These policy changes have spurred a wave of entrepreneurial activity, with startups like Skyroot and Agnikul gearing up for their own launches.
However, as evidenced by the meetings that Blue Origin has held and now, with SpaceX expected to enter, it's not just startups eyeing a piece of the Indian space tech market, projected to reach $44 billion by 2033.
SpaceX is known for offering affordable rocket launches. In India, the rocket launch market is currently dominated by the Indian Space Research Organisation (ISRO), also known for offering cost-effective and highly efficient launches.
Launch vehicle startups like Skyroot and Agnikul have also indicated that their offerings will be competitively priced. A possible SpaceX entry into the Indian space tech ecosystem will transform the launch-services sector it into a highly competitive market.
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