National Space Day 2024: Experts reveal how India is shaping the future of the global space race

On National Space Day, August 23, 2024, leaders from India's growing space tech industry celebrated the nation’s progress in the space sector, sharing their insights on the road ahead for innovation and exploration. This year’s National Space Day, set against the backdrop of the historic #Chandrayaan3 mission and the rise of private space tech startups, highlighted India’s emerging role as a global space powerhouse.

Srinath Ravichandran, Co-Founder and CEO of Agnikul Cosmos, reflected on India’s space accomplishments. “In the last one year, since we as a nation landed on the moon, Agnikul has had the unique opportunity to fly a new kind of launch vehicle demonstrator out of Indian soil from our own private launchpad," he said. Agnikul's achievements highlight India’s growing ecosystem for private players in space tech, made possible by ISRO and IN-SPACe. Ravichandran emphasized how India is enabling a new era of global space exploration.

Suyash Singh, Co-founder and CEO of GalaxEye Space, echoed this sentiment, noting how National Space Day can serve as a catalyst for inspiring the next generation of space enthusiasts. He commented, “By celebrating National Space Day on a grand scale, we can inspire and empower the next generation of space enthusiasts to contribute to India's growing space industry." He highlighted that India's participation in the global space economy is crucial for driving innovation and tapping into economic potential.

Vishesh Rajaram, Managing Partner at Speciale Invest, offered insights into the current landscape of space startups in India. He remarked, “The sector is going through a revolution, with the government's targets and private sector's innovative spirit converging to create a perfect storm of opportunity for startups." Rajaram believes that India's space industry is poised for unprecedented growth, with a goal of capturing 10% of the global space economy in the next decade.