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Govt reforms, private partnerships behind Indian space industry growth in 2024: ISpA

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New Delhi, Dec 24: Reforms made by the government coupled with private partnerships played a crucial role in the growth of India’s space industry in 2024, said the Indian Space Association (ISpA), noting that 2025 is poised to be a year of transformative developments.

Lt. Gen. AK Bhatt (Retd), Director General, ISpA stated that government reforms like the Foreign Direct Investment policy, the Rs 1,000 crore Venture Capitalist fund, and a thriving startup ecosystem, coupled with dynamic public-private collaborations propelled space sector growth.

“The Indian government’s continued focus on strategic policy reforms not only opens the door for significant private sector investment but also ensures that India stays at the forefront of global space innovation. With the continuous support from the government and the push for the public,” Bhatt said.

“The private space sector is witnessing a major growth in the startup ecosystem driven by favourable policy reforms like the liberal FDI policy announced this year,” he stated, adding that this will give the country “access to the latest tech advances and funds” both from Indian and global investors.

The FDI policy in the space sector was launched under the Indian Space Policy 2023 in March. It allows for 100 per cent FDI under the automatic route for satellite components and systems, up to 74 per cent for satellite manufacturing and operation, and 49 per cent for launch vehicles and spaceports.

In October, the Cabinet approved a Rs 1,000 crore VC Fund for the space sector, bolstering startups and private players.

It also approved Phase III of the Space-Based Surveillance (SBS-III) project, targeting the launch of 52 satellites to enhance surveillance. This involved the manufacturing of 31 satellites by the private sector, providing immense opportunities to the industry.

Further, the year also witnessed the laying of the foundation stone for India’s second spaceport in Kulasekharapattinam, Tamil Nadu.

Tata Advanced Systems and Satellogic launched India’s first private sub-metric high-resolution Earth Observation satellite in April.

In May, Agnikul Cosmos made history with the launch of “Agnibaan – SOrTeD,” the world’s first rocket powered by a fully 3D-printed, semi-cryogenic engine.

Funding for Indian space-tech startups reached $76.79 million in 2024, bringing total funding to $463.24 million to date. This includes Pixxel, GalaxEye, Dhruva Space, XDLink Labs, Piersight, and EtherialX.

Notably, this year, ISRO’s commercial arm, NSIL, invited private firms to apply for the end-to-end manufacturing of the Launch Vehicle Mark-III, used in Chandrayaan-2 and Chandrayaan-3.

IN-SPACe, under the Department of Space, also called for initial bids from domestic companies to design, build, and operate Earth Observation satellites. These initiatives mark the Centre’s push to become a key customer for India’s private space sector through a public-private partnership (PPP) model, transforming the space sector, Bhatt said.

Maharashtra

Samajwadi Party leader Abu Asim Azmi demands state secretary to pass anti-religious hatred bill in Maharashtra monsoon session

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Mumbai: Maharashtra Samajwadi Party leader and MLA Abu Asim Azmi has demanded the passing of the Anti-Religious Hatred Bill. Abu Asim Azmi has sent a letter and a draft to the Secretary of the State Assembly, demanding the passing of the Anti-Religious Hatred Bill, which prohibits religious hatred including insulting important persons, religious places, holy places and blasphemy and has demanded strict legal action and law against its perpetrators. He said that the Anti-Religious Hatred Bill should be passed in the monsoon assembly session so that strict action can be taken against those who spread religious hatred in the state. He has drawn attention in his letter that in the case of religious hatred and insulting important persons, attempts are also made to incite communal violence and spoil the atmosphere. In such a situation, the Anti-Religious Hatred Law and Bill should be passed and banned. Azmi has also sent a private draft to the Secretary, suggesting action against those who spread religious hatred and insult important persons. This bill was passed in the same session. Azmi has strongly demanded this.

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Maharashtra

Heavy rains fill Powai lake in Mumbai

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Mumbai: Mumbai Municipal Corporation’s Powai Lake, an important artificial lake within the Mumbai BMC limits, filled up around 6 am today (June 18, 2025). The water of this lake with a storage capacity of 545 crore liters of water is not potable and is mainly used for industrial purposes and other purposes apart from drinking in Aarey Dairy Colony.

According to the water engineering department of the municipal corporation, the lake filled up due to rains in the catchment area of ​​this lake for the last two days.

Here is a brief information about Powai Lake

This lake is located about 27 km (about 17 miles) from the Mumbai Municipal Corporation headquarters.

The construction of this artificial lake was completed in 1890.

The catchment area of ​​the lake is about 6.61 km. When the lake is completely full, the water area is about 2.23 square kilometers. When the lake is completely filled, it contains 545.5 crore liters of water. (5455 million liters)

After this lake is completely filled, its water goes into the Methi river.

Last year this lake was filled on 8 July 2024.

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Maharashtra

Protest in support of Palestine in Mumbai, protesters detained

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Mumbai: Demonstration in support of Palestine in Mumbai proved costly for the protesters when the police detained the protesters demonstrating in support of Palestine from midnight. The leaders who had announced to protest in different areas of Mumbai to express sympathy for Palestine were stopped by the police from going to Azad Maidan from midnight. Chunabhatti police detained Miraj Siddiqui, Gurgaon police detained Comrade Prakash Reddy, MIDC police detained Firoz Mithi Borwala.

The protesters had sought permission to protest in support of Palestine, but the police refused to give permission, while the protesters had warned them against protesting. Firoz Mithi Borwala said that the police detained us from midnight to stop us from protesting. He said that after the threat from Hindu extremist organization Vishwa Hindu Parishad Bajrang Dal, the police took this action to crush the protest. Hindu organizations had clearly threatened that if Muslims protest against Israel, they will take to the streets in support of Israel. It was only after this threat that the police took action against the protesters in support of Palestine, which is completely illegal. Mumbai Police said that the permission has been canceled to maintain law and order. Police has issued an alert in Mumbai.

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