Prime Minister Narendra Modi inaugurated the “DefSpace Mission” with 75 Challenges at DefExpo 2022 in Gandhinagar, Gujarat on October 19, 2022, with the goal of utilising India’s space might to benefit not just the people of India but the whole world.
The government launched the Mission DefSpace project to encourage industry and startups to create cutting-edge defence forces in the space sector.
Through industry and startups, the space programme seeks to provide cutting-edge solutions for the Defense Forces. Importantly, the effort will strengthen India’s preparation and position the nation for potential future space opportunities.
A future illustration of what security will imply for a powerful nation is the endeavour to use space technology. The programme will focus on a number of difficulties in this area that the three defence services have examined and identified.
Considering the present value of the global space economy, which is $ 447 billion, and the fact that India’s space economy is only estimated at $ 36,794 crore (about $5 billion), it is clear that there is still a significant gap that has to be filled.
India now only makes up around 2% of the space economy, lagging behind powerful nations like the US and China. India has been making great gains toward realising its space objectives by opening up the space sector to domestic private businesses and creative Start-Ups, allowing them to tap into untapped possibilities.