The Space Economy India team at C4IR India participated in the 7th IN-SPACe Industry Connect held in Ahmedabad on 10–11 June, hosted by IN-SPACe. The team supported in facilitating the CXO Roundtable. The convening brought together key stakeholders from across the space ecosystem, including representatives from Indian Space Research Organisation, DRDO, central ministries, industry leaders—from startups to established enterprises—as well as venture capitalists, fund managers, academia, and user sectors such as education.

Discussions reinforced India’s ambition to scale its space economy to USD 44 billion, underpinned by innovation, globally competitive ‘Made in India’ solutions, and an aggressive push on exports. Stakeholders called for accelerated technology development, enhanced industry-led R&D, and a shift from 'build-to-print' to ‘build-to-spec’ models. This means empowering the Indian space industry to take greater ownership of the design and innovation process, building domestic R&D, IP creation, and global competitiveness, thereby transforming India into a significant player in the global space economy.

Key themes emerged from the discussions:

1. Policy and Standards: The need for clearer regulatory frameworks, standardization across components and systems, and transparent costing mechanisms was consistently highlighted.

2. Financing and Investment Readiness: A key recommendation was to classify space assets as 'infrastructure' to unlock financing avenues. Stakeholders also proposed developing a robust framework linking Technology Readiness Levels (TRL) with Market Readiness Levels (MRL) to aid investment evaluation and risk assessment.

3. Commercial and User Demand: The investor community expressed growing interest in the commercial viability of the space sector, moving beyond traditional strategic considerations. Demand generation conversations emphasized the importance of developing innovative, user-driven applications that cater not only to government clients but also to broader public needs. Education and awareness were identified as levers to build wider adoption.

4. Affordability and Competitiveness: Achieving cost-effectiveness in satellite communication—through integrated solutions and standardization—was seen as essential for wider market access and positioning India as a key exporter to the Global South.

Throughout the event, collaboration across government, industry, and academia emerged as a foundational imperative. The concept of a “user handshake”—aligning technological innovation with user needs—was repeatedly stressed as central to unlocking both domestic and global opportunities.

Integrate space startups into national innovation ecosystems - ESA Member States