India, June 3 -- Karnataka, with its ambitious vision to sustain as the number one destination for space technology in India, aspires to hold 50% of India's projected space economy, valued at USD 22 billion by 2033, while capturing at least 5% of the global market share across the space technology value chain. With a consolidated Draft- Karnataka Spacetech Policy 2024-2029, the state government has laid down a comprehensive blueprint for itself to transform the state into a global hub for commercial space activities.

Karnataka, particularly Bengaluru, has long served as India's nerve centre for space and aerospace technologies. With institutions like ISRO's UR Rao Satellite Centre, NewSpace India (NSIL), and a vast network of private ven...