Analyze the challenges the space industry has experienced since gaining freedom.
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Indian space sector has overcome several barriers since independence with a record of achievement as follows:
Less budget: The present space budget of India is one of the lowest in terms of space budget of all the space faring nations. They means that a small budget often prevents India from putting forward large capital goods, RD as well as progress in technologies.
Technological lags: The Indian space sector has evolutionized in many ways but still suffers from a technological gap in certain critical areas such as high efficiency propulsion systems, Reusable launch vehicles, and deep space exploration technologies etc.
-Import Dependency: Import vulnerability can be observed through reliance on imported components for the critical technologies which may lead to high costs and inability to indigenously develop these.
-Bureaucratic Red Tape: This sometimes poses a problem to Government agencies and private players when dealing with several procedures in the bid to secure necessary approvals.
Limited Involvement of Private Companies The motivation to encourage the private sector participation is in progress, however, Indian space industry is primarily driven by government agencies. “It will, however, be crucial that to ensure private space develops well, many of these regulatory hurdles are removed, which currently create unnecessary complexity in investment on the side of private space sector and innovations.”
-Global Competition: A number of global competitors can be identified, with the US, China, and Europe leading in the sector that they favor spending a lot of money on in the effort to develop space. This means India should be competitive so that it may remain relevant amidst the fast-growing trend.