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The startups are also getting a boost from government-backed initiatives, which are scoring a win for India at the global stage. After India successfully landed Chandrayaan-3, its third lunar mission near the South Pole of the Moon in August 2023, the Indian Space Research Organisation (ISRO) this week successfully completed the docking of satellites as part of its Space Docking Experiment (SpaDeX), the space agency announced on social media platform X, making India only the fourth nation globally to achieve this feat.
The startup founders in the new year are bullish on India’s revised foreign direct investment (FDI) policy for the sector that prescribes new liberalised FDI thresholds, hoping to raise more capital.
“With international investors contributing significantly to the space industry’s growth-stage funding in recent years, it (FDI norms) reduces ambiguity regarding exit strategies for investors, allowing for the free sale of shares,” said Yashas Karanam, cofounder of Bellatrix Aerospace.
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