It added that "Since June 2020, when Mr Modi announced a push for the space sector, opening it up to all kinds of private enterprise, India has launched a network of businesses, each driven by original research and homegrown talent. Last year, the space start-ups raked in USD 120 million in new investment, at a rate that is doubling or tripling annually." The NYT report mentions Hyderabad-based Skyroot Aerospace and aerospace manufacturer Dhruva Space.
"Skyroot and Dhruva work in the relatively sexy sectors of launch and satellite delivery, but together those account for only 8 per cent of India's space business pie.
Advertisement"A much bigger slice comes from companies that specialise in collecting data beamed by satellite," the report said and cited the example of Bengaluru-headquartered start-up Pixxel, co-founded by Awais Ahmed and Kshitij Khandelwal and which has a "contract with a secretive agency within the Pentagon." Pixxel has developed an imaging system to detect patterns on the Earth's surface that lie outside the range of ordinary colour vision.
Describing India as a "thriving centre of innovation" and "one of the most competitive launch sites in the world", the NYT article said space-tech start-ups are one of India's "most sought-after sectors" for venture capital investors and their growth "has been explosive, leaping from five when the pandemic started." Terming India's vendor ecosystem as "staggering in size", the NYT said years of conducting business with ISRO has created "about 400 private companies in clusters around Bengaluru, Hyderabad, Pune and elsewhere, each devoted to building special screws, sealants and other products fit for space." India has an abundance of affordable engineers, but their smaller salaries alone cannot beat the competition. That leaves an Indian company like Skyroot concentrating on more specialised services, the newspaper said.
Pawan Kumar Chandana, 32, Co-Founder and CEO, Skyroot Aerospace, anticipates a global need for 30,000 satellites to be launched this decade.
"We are more like a cab," said Chandana, whose company charges higher rates for smaller-payload launches, while Elon Musk-owned SpaceX "is more like a bus or a train, where they take all their passengers and put them in one destination." Dhruva Space, which deploys satellites, was India's first space start-up. In any given month, Kranthi Chand, its head of strategy, is hardly in Hyderabad, as he spends about one week in Europe and another in the US, rounding up clients and investors, the article said.
In May, Dhruva Space announced the successful test and Space-qualification of its 3U and 6U Satellite Orbital Deployers and Orbital Link onboard ISRO'S PSLV-C55 mission.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
