Capture A Larger Share Of Global Space Economy
FinTech BizNews Service
Mumbai, 23 August, 2026: National Space Day is commemorated on 23rd August. Indian Space Association (ISpA), Viasat India and Suhora Technologies, have shared the inspring quotes to celebrate the occasion:
Lt. Gen. AK Bhatt, Director General, Indian Space Association (ISpA): “India’s private space ecosystem has come a remarkable distance in a relatively short time.
We are no longer talking only about building capabilities; we are seeing those capabilities translate into real market opportunities. India is emerging as a full-stack space economy, with growing strengths across launch, satellite infrastructure and a range of downstream space applications. Recent successes by private space companies have demonstrated India’s ability to build capabilities at a globally competitive level, sending an important signal to investors and international partners that Indian space companies can move from innovation to execution and scale.
While much of the attention has focused on upstream capabilities, the next phase of India’s space story will be shaped equally by downstream adoption. Companies in Earth observation, satellite communications and geospatial intelligence are driving real-world applications across agriculture, climate monitoring, urban planning, disaster management, connectivity and national security. The true potential of India’s space economy will be measured by the scale of this adoption and our ability to capture a larger share of the global market.
This progress reflects a strong public-private partnership, combining ISRO’s decades of technological expertise, progressive policy and regulatory reforms and the execution capabilities of a new generation of private players. The priority now must be to convert this momentum into sustained scale by strengthening manufacturing, supply chains, long-term capital and specialised talent. India has demonstrated that it can build world-class space capabilities. The next challenge is to build world-class space businesses at scale and capture a larger share of the global space economy.”
Gautam Sharma, Managing Director, Viasat India: "On this National Space Day, we applaud the Indian government and ISRO for their visionary leadership in building a world-class space ecosystem and fostering impactful public-private partnerships that accelerate innovation. India’s journey towards being one of the leading spacefaring nations has been a significant one, and we have been part of this for years. we share a deep, four-decade relationship with the Indian government, serving as a critical backbone for India’s maritime safety, defense communication and emergency response capabilities. We have been providing reliable, secure satellite comms for the Indian Navy, Coast Guard and offshore critical infrastructure like ONGC platforms. To this day, thousands of Indian seafarers rely on our L-band safety services for life-saving distress alerting and crew welfare communications at sea.
We are also equally invested in the wider ecosystem taking shape especially with the opening of the space sector. We are working closely with Indian startups, researchers and academic institutions like IIT Hyderabad and IIT Chennai, and combining our global satellite expertise with the country's rapidly maturing talent, helping them build the next generation of technologies from within India. That spirit of collaboration and innovation is what will carry the country toward genuine leadership on the global space stage. Satellite communications is no longer a niche capability, it is critical national infrastructure, extending connectivity to defence, disaster response, maritime and remote regions that terrestrial networks cannot reach and for this potential to be fully realised.”
Krishanu Acharya, CEO & Co-Founder, Suhora Technologies: "India's private space story has largely been told through rockets and launch vehicles, but the more sustainable growth engine is downstream.
t Suhora, we've built our business on that belief, working closely with India's defence forces and agencies to turn multi-sensor satellite data into real-time intelligence for surveillance and disaster response. As more satellites reach orbit, that raw data only becomes valuable once it's converted into usable insight, and that's where downstream players will increasingly drive revenue for India's space economy. We see this as the layer where India can build lasting, exportable expertise, not just supporting domestic capability, but competing globally in analytics and applications built on space data."
