Courtesy: NASA
As more countries pursue missions to Mars, planetary explorations are evolving from being science-driven scientific pursuits to an economics-driven one. For India, commercializing planetary exploration must be a national priority. This demands more attention and contributions from the private sector - especially startups and innovative companies - to ensure a vibrant space program.
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The maturing private space sector in the U.S. has learned to raise money from the market in the form of sectoral equity-traded funds. Such financing mechanisms will keep the U.S. ahead in the global space economy, which is slated to grow manifold from $430 billion now to $4 trillion by 2040. India's fledgling private space ecosystem, financiers, and stock exchanges can learn from the U.S. and do the same for India's newly reformed private space sector.
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India needs a policy mix that nurtures the Space 2.0 industry, secures it from hostile takeovers and predatory investments from overseas investors, and does not suffocate it under excessive protectionism.