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Dhruva Space founder and CEO Sanjay Nekkanti told ET the Hyderabad-based startup will use the capital infusion, of which Rs 44 crore was in debt, to set up the first phase of its 2.8 lakh sq ft spacecraft manufacturing facility in the city.
Liberal FDI regime is of a piece with India's growing stature as a space-faring nation. Market freedom must be combined with regulatory oversight.
India Business News: Elon Musk to meet with Indian spacetech startups in India to explore potential opportunities for SpaceX and Starlink. Meeting to include Hyderabad-based companies like Skyroot Aerospace and Bengaluru-based startups like Pixxel and Digantara.
Eutelsat OneWeb, Starlink, Jio Satellite Communications and Amazon are vying for a portion of the burgeoning Indian market, which has significant growth prospects
Space Technology: India's private space sector saw tremendous growth in the last decade and catapulted the country into the league of elite spacefaring nations, with the potential to become a $100 billion market in the years to come.