Act Now or Lag Behind’: Pawan Goenka’s Bold Message at India Space Congress 2025

A New Era of Urgency

At the India Space Congress 2025, held in New Delhi earlier this year, Pawan Goenka, chairman of IN‑SPACe—the nodal body overseeing private sector participation in India’s space ecosystem—made a clarion call: the space industry must transition from aspiration to action with a heightened sense of urgency.

He emphasized that India simply cannot afford to linger as a passive contributor to the global space economy. With a goal to scale from roughly $10 billion today to $44 billion by 2033, Goenka urged stakeholders—startups, investors, incumbents—to accelerate technological development, amplify production, and scale operations before the opportunity passes.

The Stakes: Market, Geopolitics, Technology

India today commands only about 2–3% of the global space economy, a figure far below its potential as the world’s fifth-largest economy. Goenka noted that the global industry is on track to reach nearly $1 trillion by the mid-2030s, driven by small satellites, Earth observation applications, and data services. India must stake its claim in this emerging frontier, or risk missing the wave.

He also underscored the growing strategic urgency linked to geopolitical competition, particularly in Asia. Rapid deployment of small satellite constellations, space-based surveillance, and resilient data systems are no longer optional—they’re national security imperative.

Three Pillars of the New Push

Goenka outlined three foundational pillars for the industry’s urgent push:

1. Domestic Manufacturing & Launch Capability

• SSLV Technology Transfer: IN‑SPACe has already transferred Small Satellite Launch Vehicle (SSLV) technology to both HAL and private players, enabling off‑ISRO commercial launches.

• Three Private SSLVs Operational Soon: He predicted that within 12 months, India will have three fully operational private SSLVs—from Skyroot (Vikram), Agnikul (Agnibaan), and ISRO-developed vehicles under license.

• Dedicated Small Satellite Launch Centre: A new spaceport in Tamil Nadu is being established, targeting 25 SSLV launches annually to serve domestic and international satellite operators.

2. Integrated Satellite Ecosystem

• Satellite Bus-as-a-Service (SBaaS): IN‑SPACe recently opened bids for private manufacture of satellite buses, enabling private firms to build and host payloads on standardized platforms.

• Scaling Earth Observation (EO): Nine private consortiums are tendering to build constellations serving agriculture, disaster monitoring, urban planning, and defense.

• Self-Reliance in Space Data: Goenka emphasized reducing dependence on foreign data sources, pushing for “anytime, anywhere, high-resolution” domestic satellite coverage to support national development.

3. Funding & Regulatory Infrastructure

• ₹500 crore (~$58 million) Technology Adoption Fund: Launched by IN‑SPACe in February 2025 to help startups and MSMEs refine technologies for commercial readiness.

• VC Fund via SIDBI: A ₹1,000 crore venture capital pool, managed by SIDBI Ventures, is being deployed in $8–10 million tickets to boost space startups.

• Favourable FDI Regime: India allows up to 49% automatic FDI in key private space ventures, with 100% foreign investment permitted in non-critical applications.

• Space Act & Policy Framework: Drafted laws and clear guidelines on spectrum, data licencing, export controls, and private launch approvals are nearing finalization.

Startups & Unicorn Dream

Goenka expressed confidence that India will see its first space unicorn by the end of 2025, building on existing $500 million-valued startups and several others in the $250 million range. He believes that when these companies prove their capabilities and scale, investor confidence will rise sharply, catalyzing a virtuous cycle of growth and valuation.

Synergy: Public-Private Collaboration

IN‑SPACe under Goenka is firmly pushing for collaborative models:

• ISRO is not relinquishing leadership but partnering—offering infrastructure, technical knowhow, and test facilities.

• Private industry is expected to deliver half of the next 52 defense and strategic satellites, including both hardware and entire launch campaigns.

• The 50:50 model on surveillance satellites will help build robust domestic capability in critical domains—intelligence, border monitoring, maritime security.

Global Context & Competitive Positioning

India aims not to replicate SpaceX or Blue Origin, but to carve a niche in cost-effective, reliable small satellite launches and data products. Goenka drew attention to India’s competitive edges—strong talent, engineering maturity, networked ground stations, and lower-cost production.

Once the upcoming space laws and FDI guidelines are in place, it will open up massive foreign investment, global manufacturing partnerships, and export-driven growth—positioning India as a space production and data hub for the Global South.

Challenges to Overcome

Goenka was candid about current hamstrings:

• Funding gaps: While global investments have grown—$130 million last year, significantly higher than previous years—more capital is needed to scale manufacturing and constellation rollouts.

• Regulatory delays: The final space act and operational policies have been pending, slowing down private launches, spectrum allocation, and strategic R&D.

• Ecosystem readiness: Despite nearly 200 space startups, many still lack the prototype-to-market infrastructure, experienced team, or risk-taking mindset needed to deliver at scale.

Urgent Timeline Ahead

To hit the $44 billion industry target by 2033, India needs ~21% annual growth, a steep rise from the current ~7% trajectory. Accelerating SSLV deployments, constellation building, and private manufacturing all hinge on executing this year’s commitments—tech, funding, regulation.

Goenka urged all stakeholders to focus on delivery, not just plans:

1. Launch at least 25 SSLVs by 2026.

2. Deploy 52 Earth & defense satellites through public-private contracts by 2030.

3. Scale EO data services to power key sectors like agriculture, meteorology, security.

4. Finalize laws and guidelines this year to catalyze foreign investment and manufacturing partnerships.

India Space Congress 2025 reiterated a clear truth: the rocket isn’t launching unless everything accelerates in parallel—industry, government, regulations, capital. Pawan Goenka's message was stark: time is not a luxury. India stands at a strategic inflection point. The choices made in 2025 will define whether the nation leads, or lags, in the coming space renaissance.

This is far more than a technical or economic challenge—it’s a call to national ambition, transforming India from a nation that reaches for the moon to one that owns the orbit.