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Knews Desk- The day of 18 July 2026 was recorded as an important achievement in India’s space history. Hyderabad private company Skyroot Aerospace launched its first private orbital launch vehicle Vikram-1 The successful launch of ISS proved that now India’s space sector is not limited to ISRO only. This mission is not just a rocket launch, but is being considered as the new beginning of India’s private space economy. Just as private companies like SpaceX and Blue Origin along with NASA in America gave a new direction to the space business, similarly India is also preparing to establish its strong presence in the global space industry with the help of private companies.

Vikram-1 is India’s first privately developed orbital launch vehicle, which is designed to deliver a payload of up to 350 kg to Low Earth Orbit (LEO). This rocket is made of carbon-composite structure, due to which its weight is less and strength is more. It uses solid fuel boosters and modern 3D printed liquid engines. Through this mission, many satellites and technical payloads of Indian and foreign customers have been sent into space. These include Earth monitoring satellites, equipment to test new technologies and experiments to space debris management. Apart from this, an artefact named ‘Cosmic Bloom’ and a micro rocket made of 18 carat gold were also sent into space, on which scientist C.V. The figures of Raman, Dr. Vikram Sarabhai and Dr. APJ Abdul Kalam have been engraved. The government’s new space policy also has a big contribution behind the success of Vikram-1. Indian Space Policy 2023 After its implementation, for the first time the entire value chain of the space sector was opened to private companies. Now Indian companies can develop rockets, make satellites, provide launch services and also participate in space-based data business. simultaneously IN-SPACe has been made a single window agency for private companies, making the approval process much easier than before. The result was that the number of startups working on space technology in India has increased rapidly.

According to government data, in the year 2014, there was only one startup working on space technology in India, whereas today this number has increased to more than 400. These companies are working on cutting-edge technologies like rockets, satellites, drones, sensors, space data analytics, defense technology and earth observation. The business of this sector has also increased manifold in the last few years. While the revenue of the space ecosystem was around Rs 322 crore in the year 2021-22, it has increased to around Rs 3,200 crore by 2024-25. This rapidly growing industry can also create millions of employment opportunities in the coming years. The government has also launched many new schemes to promote private investment. Under IN-SPACe, financial assistance up to Rs 1 crore is being provided to early stage startups and MSMEs through the Seed Fund Scheme. Apart from this, a venture capital fund of Rs 1,000 crore has been created, which will invest in space startups for the next five years. A Technology Adoption Fund of Rs 500 crore has also been started to take new technologies from the laboratory to the market, under which startups and MSMEs will get support up to 60 percent of the project cost. The objective of these schemes is to accelerate the commercialization of cutting-edge space technology in India.

Experts believe that the success of Vikram-1 will have the biggest impact on India’s economy. This will make it easier and economical for foreign companies to launch satellites from India. New business opportunities will open in areas like launch services, satellite manufacturing, space data, defence, communications, weather forecasting, agriculture and disaster management. Along with this, private investment, foreign investment and high-tech employment are also expected to increase. The Government of India has planned to expand the country’s space economy by approximately 100 billion dollars The target has been set to reach India and Vikram-1 is being considered as the first big step in this direction. The successful flight of Vikram-1 is not only a scientific achievement, but it is also considered very important for India from economic, technological and strategic point of view. This mission has given the message that India will no longer be limited to only government space missions, but will rapidly increase its share in the global space industry with the participation of private companies. In the coming years, this success can play an important role in including India among the world’s largest space markets.