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Space Industry Funding in India Falls 55% in 2024
Hindustan Times Ranchi
|January 07, 2025
Funding in India's space sector, a key part of the country's ambitions to become a global superpower, plummeted by 55% in 2024 to $59.1 million from $130.2 million the previous year, according to data from market intelligence platform Tracxn.
BENGALURU:
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 approximately $354 million in the same period, Tracxn data showed.
This story is from the January 07, 2025 edition of Hindustan Times Ranchi.
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