Vikram-1: Charting India’s Cosmic Future

The Indian Space Policy 2023 and related reforms have opened the entire space value chain to private participation, leading to rapid growth of the private space ecosystem. The sector now hosts over 400 startups (up from one in 2014) and is valued at about USD 8.4 billion, with projections of USD 40‑45 billion by 2030 and USD 100 billion by 2040. Key institutional reforms include the creation of IN‑SPACe as a single‑window regulator, a ₹1,000 crore venture‑capital fund, a ₹500 crore Technology Adoption Fund, and liberalised FDI limits (up to 74% for satellite manufacturing, 49% for launch vehicles, 100% for components). Vikram‑1, developed by Skyroot Aerospace, is India’s first privately built orbital launch vehicle and is slated for launch between 12 July and 4 August 2026, carrying multiple commercial and symbolic payloads.