The Next Frontier: Space Station, Moon and Planetary Exploration This transition is particularly important in the context of Space Vision 2047. India’s ambitions include establishing the Bharatiya Antariksh Station by 2035, undertaking an Indian crewed mission to the Moon by 2040, developing next-generation and reusable launch systems, pursuing sustained lunar and planetary exploration, and establishing India as a major global space power. These are technologically demanding missions that require ISRO to remain focused on advanced research and capabilities that cannot simply be substituted by commercial activity. The objective is therefore to enable industry to scale mature capabilities while ISRO pushes India towards the next technological frontier. The new institutional architecture gives each part of the space ecosystem a distinct role. The Department of Space provides overall policy direction. ISRO remains the core organisation for advanced R&D, technology development and national missions. IN-SPACe facilitates and authorises the participation of non-government entities, while NSIL undertakes commercialisation and industry-led utilisation of mature capabilities. Industry and start-ups contribute investment, innovation, manufacturing capacity and market access. At the same time, ownership and control of critical national space infrastructure and strategic capabilities will continue to remain with the Government. Private participation in operations and services will be enabled where appropriate and will remain subject to national-security, safety and other regulatory requirements. Strategic and nationally critical capabilities will continue to be governed by security, safety, quality and national-interest considerations. Building India’s Overall Space Capability The emergence of a vibrant private space ecosystem is already one of the major outcomes of 2020 space reforms. From only a handful of Indian space start-ups in 2020, India today has more than 450, working across launch vehicles, satellites, propulsion, ground systems, Earth observation, communications and space applications. This has brought additional investment, entrepreneurial talent and technological innovation while creating opportunities for highly skilled professionals and strengthening India’s overall space capability. India’s space economy is presently estimated at around $8.4 billion, still a relatively small share of the rapidly expanding global space economy. India aims to increase its share of the global space market to $44 billion by 2033. That scale cannot be achieved through government resources and ISRO’s manpower alone. It requires private capital, industrial capacity, entrepreneurship and global market access. A stronger Indian space industry can augment ISRO’s capabilities, strengthen domestic supply chains, attract talent and investment, increase production and competitiveness, and enable India to capture a larger share of the global space economy. A Stronger ISRO at the Centre The success of the reforms should ultimately be measured by the growth of India’s aggregate space capability. ISRO remains at the centre of India’s space programme, leading national efforts in advanced research, strategic capabilities, human space-flight, next-generation launch technologies, the Bharatiya Antariksh Station and lunar and planetary exploration, while a wider Indian ecosystem provides the scale needed to realise India’s Space Vision 2047.