While India's share in the global space economy so far is small—around 2 per cent—Seth was of the view that the government’s policy and InSpace's decadal vision clearly aim to increase that share to about 10 per cent.
"We've seen policies align with this vision. Since we started, the Indian government introduced foreign direct investment through the automatic route, which has been really supportive," said Seth. "Apart from rocket fuel, capital is the fuel companies like ours need at early stages. This is a sunrise sector and capital-intensive, so the FDI policy really helps. Plus, the recent budget announced a ₹1,000 crore VC fund for the space sector, which is a huge boost for emerging companies."