India, Feb. 12 -- Earlier this month, a PSLV-C62 launched in the morning from Satish Dhawan Space Centre in Sriharikota. Minutes after liftoff, the rocket drifted off course and crashed into the southern Indian Ocean. Sixteen satellites were lost. These included DRDO's surveillance satellite Anvesha and payloads from startups from India other countries like Brazil, Spain, UK, Nepal and Thailand. A complete loss of $200-250 million. Most of the startups that had payloads on the rocket, had no insurance and might have to fold soon because of this loss. And experts say that because the PSLC has seen two successive failures, insurance premiums for companies willing and able to take protection could rise sharply.

This incident, is one of the ...