The drop, which came amid a global 20% decline in space sector investment, marks the first fall in at least five years. Globally, space companies raised about $28 billion over the last five years, while their Indian counterparts secured about $354 million in the same period, Tracxn data showed.India's space industry has gained global attention with the Chandrayaan-3 lunar landing and the Aditya-L1 solar probe launch. Its private space sector growth is increasingly seen as crucial for achieving the long-term goal a $44 billion private space economy.The government has sought to stimulate the sector with a ₹1,000 crore ($119 million) fund in October to support startups and expand India's share of the global commercial space market by 2033.Industry participants said they expect to see a pickup in funding in 2025.In 2023, India's space sector hit a peak of $130.2 million, a near 33% rise from 2022, driven by steps supporting satellite technology, launch vehicles, and space exploration."The decline aligns with the natural investment cycles of the industry," said Pawan Chandana, founder of Skyroot Aerospace. "As leading companies approach critical milestones in 2025, investment

Funding in space industry of India falls 55% in 2024

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.