Space technology... business, the sky is the limit

- After the success of Chandrayaan-3, the space sector has been boosted, India's space business is also sure to get wings now.

- Space technology equipment manufacturing companies have been booming since last Wednesday. The market cap of these companies has crossed Rs 13,000 crore.

- The message behind the success of Chandrayaan-3 is that India's entrepreneurs have found a new field. The space sector, which was once not much in the public's mind, has been witnessing new innovations ever since it allowed startups into the space sector.

The success of Chandrayaan-3 has boosted the space sector. India's space business is also certain to get wings now. Sky is the limit for space technology and space science. The message behind the success of Chandrayaan-3 is that no one can stop India in the space sector. When the IT sector started in India in 1969, people did not understand its economic system. Today India's IT sector is the talk of the town.

The contribution of IT sector to GDP is 7.4 percent. The contribution of India's space sector is 0.25 percent to the GDP. The top companies in this sector are in India and are getting business from abroad. Western countries are criticizing the success of Chandrayaan after seeing the success of India's space. The success of Chandrayaan-3 has erased the impression that India is backward in technology. As in space technology, India uses the technology of other countries and India depends on the space technology of other countries.

Among the space technologists who retire from ISRO after 60 years, some are kept as consultants in ISRO and some are hired by space startups.

100 space startups are registered with the Indian Space Research Organization. From 2014 to 2023, these 30 space startups are estimated to have received $205 million in funding. In 2002, when India launched its first private rocket by startup Skyroot, the world's attention was drawn to India's space sector. Private startups can also be said to have contributed to the success of India's Chandrayaan as startups created competition. In short, the startup acted as a catalyst.

Until India launched a private satellite in 2022, India could not hold its head high in the world's space sector, but after the launch of a private satellite, India's space sector got a boost. It can also be said that India's trust in the space startup sector is paying off. Which can be helpful to the economic sector of India. Space startups have been exempted from Goods and Services Tax (GST).

When about 100 space startups are registered with ISRO, their ideas will also be seen soon. Government is providing them support including funds, technology. In January 2023, Microsoft joined hands with ISRO and offered technology support.

India's space growth story is full of ambition. Here are five startups. Launched in 2016, Adhya Aerospace has its main office in Bangalore. This venture of Shaju Stephen is connected with artificial intelligence.

This startup is associated with both space and aero space. The US-based Keretsu Forum has given him one million dollars in funding.

A start up called Agincool was launched in 2017. Mr. Harikota has his own lunchpad and his control center at the Satish Dhawan Space Center. The startup has raised $34 million in funding. The company jointly launched the country's first private satellite with ISRO and InSpace.

Astrogate Labs is involved in the high-speed communication of small satellites and has conducted research on space-to-ground communication. This startup started in 2017 and started getting funding from 2019.

Space tech startup Bellatrix Aerospace was launched in 2015. So far these companies have received funding of 11 million dollars. The company has advanced in space propulsion technology.

Launched in 2012, Dhruv Space is based in Hyderabad. This startup facilitates the launching of private satellites. It is India's first space startup to receive a design and development order for a satellite. Around 100 such startups will advance India's space business technology.

The message behind the success of Chandrayaan-3 is that Indian entrepreneurs have found a new field. The space sector, which was once not much in the public's mind, has been witnessing new innovations ever since it allowed startups into the space sector. Ever since foreign investments started pouring in for space science research, space explorers started to grow.

Space technology equipment manufacturing companies have been bullish since last Wednesday. The market cap of these companies has crossed Rs 13,000 crore. India has become the fourth country after America, Russia and China in soft landing, but India has become the first country in the world to hoist the tricolor on the southern part of the moon.

Shares of Centrum Electronics, which supplies systems to ISRO, rose 14 percent last Wednesday. Godrej Aerospace gained 7 percent. Lander module record maker Hindustan Aeronautics rose 3.5 percent. The supply, however, did not increase steadily. Wednesday's momentum was seen in these stocks.

The Team Indu project being prepared with private funds was supported by Google but it could not last very long. When India won the Cricket World Cup in 1983, there was a craze for budding cricketers to do something new, and the Chandrayaan-3 team has also welcomed youngsters for the space sector.