Unlocking India's Space Economy: Frugal Innovation and Private Sector Integration

With the global space sector's increasing democratization, new business opportunities are flourishing,driven by innovative startups. Historically, India's space R&D and commercial activities have been ISRO-centric, a testament to its consistent global achievements. However, recent regulatory reforms mark a new era for Indian space science and technology. These transformative policy and legislative changes aim to unlock the sector's full potential, ensuring an equitable environment for emerging small and medium enterprises and startups. This paper discusses the frugal implementation of these Space and Geospatial Policies, which emphasize incremental private industry participation throughout the space ecosystem's value chain. The ultimate goal is to significantly enhance India's economic contribution to the global space industry.