Thirty Indian companies have stepped forward to participate in a groundbreaking initiative to establish Earth observation (EO) satellite constellations, responding to a call from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
This move aims to reduce India’s reliance on foreign satellite data for critical sectors such as defense and infrastructure management.
Pawan Goenka, chairman of IN-SPACe, announced that the organisation received nine applications, each representing a consortium of companies totaling 30 participants.
The initiative, which began with an expression of interest (EoI) issued in July, is part of a broader strategy to enhance data sovereignty and monetize the burgeoning space sector.
The market for small satellite and data services is projected to reach $45 billion by 2030, as demand for EO data grows across various industries, including telecommunications and climate monitoring.
Notable applicants include innovative startups like Google-backed Pixxel and Baring Private Equity-backed SatSure, alongside established firms such as Tata Advanced Systems.
Goenka indicated that technical evaluations of the applications are expected to conclude by the end of January 2025, after which a tender will be issued to select the winning bidder.
To qualify, applicants must meet stringent criteria, including raising or investing at least Rs 850 million (approximately $10 million) in space-related activities and establishing spacecraft control centers in India.
The Indian government plans to provide loans of up to Rs 3.5 billion ($42 million) to the winning consortium, with private companies expected to cover additional costs.
This initiative marks a significant shift in India's approach to space exploration, emphasizing private sector participation and fostering commercial ventures.
Since opening the space sector to private players earlier this year, India has established a Rs 10 billion venture fund aimed at supporting space startups.
The government’s focus on developing indigenous satellite capabilities is crucial as India currently sources much of its EO data from foreign entities like the European Space Agency and ISRO.
As India embarks on this ambitious journey towards self-reliance in space data, the successful implementation of these satellite constellations could significantly enhance national security and infrastructure planning.
Source: India Today