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India's space industry funding falls 55% in 2024

India's space industry funding falls 55% in 2024

FILE PHOTO: A satellite model is placed on a picture of Earth in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Funding in India’s space sector, a key part of the country’s ambitions to become a global superpower, plummeted by 55% in 2024 to $59.1 million from $130.2 million the previous year, according to data from market intelligence platform Tracxn.

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