Space sector can hit $50 bn by 2024, needs policy support: Antrix-PwC study

Calls for unhindered access to capital for start-ups, govt support in the form of buyback arrangements or schemes to incentivise investors

The Indian space sector can become a $50 billion industry, or about one per cent of India's projected $5 trillion economy, by 2024 from the current $7 billion, according to a report by the Indian Space Research Organsiation (Isro)'s commercial arm Antrix and PwC.

The two organisations today released a report titled 'Preparing to Scale New Heights: Privatisation of India's Space Sector', at The Space Technology Conclave in Kerala.

Stating that India possesses critical capabilities to become a major player in the global commercial space market especially in the areas of communication (5G, broadband) and earth observation, there is also good demand