Indian space-tech unicorn Skyroot Aerospace launched the country's first privately developed orbital rocket, the Vikram-1, on Saturday. Lifting off from an island north of Chennai, the launch marks a major step in India's ambition to become a space power and is the first time a private-sector company from India has launched a rocket to orbit.
The mission signals India's plans to take a larger share of the global commercial launch market. Since the space sector opened to private investment in 2020, the country's space economy has rapidly expanded and is now valued at $8.4 billion.
The takeoff marks a significant step for the South Asian giant as it seeks a bigger slice of the global space economy. Prime Minister Narendra Modi stated that the successful launch will encourage countless youngsters to dream bigger and innovate fearlessly.