India can have a $100 bn space industry by 2040: Arthur D. Little

Subject : Science and technology

Concept :

India’s space market is expected to touch $40 billion by 2040 and, with the right strategies, could tap into a $100 billion market opportunity, consulting firm Arthur D. Little said in report titled “India in Space: A $100 Billion Industry by 2040”.
The firm has identified 10 key imperatives to enable India’s space sector to unlock its full potential.
These include establishing clear and comprehensive regulations, attracting foreign investments, strengthening manufacturing capabilities, implementing formal support programs for start-ups, capitalising on near-term opportunities, establishing accelerator and incubation centres, leveraging foreign expertise through collaborations, pursuing joint missions with other space agencies, establishing dedicated research and development centres for emerging space themes, and accelerating skill development.

NewSpace India Ltd (NSIL)

NSIL is a Central Public Sector Enterprise of the Government of India.
It was established in 2019 under the administrative control of the Department of Space.
NSIL is the commercial arm of Indian Space Research Organisation (ISRO) with the primary responsibility of enabling Indian industries to take up high technology space related activities.
Headquarters: Bengaluru

Mission:

Owning satellites for Earth Observation and Communication applications and providing space-based services
Building satellites and launching them as per demand
Providing Launch Services for satellite belonging to customer
Building launch vehicles through Indian Industry and launch as per satellite customer requirement
Space based Services related to Earth Observation and Communication satellites on commercial basis
Satellite building through Indian Industry
Technology Transfer to Indian Industry