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What I said remains.Yes, labor cost are higher there but still they are managing cost comparable to us plus look at their 10 yr plans, they will be building launchers to launch far higher of sats in space than us. SpaceX is already launching 60 starlink sat in cluster in Falcon 9, they recently broke ISRO records of launching highest no of sat in one mission. They can repurpose Falcon 9 fairing to include only small or nano sat and there goes our ISRO's lower labor cost advantages.
Their advantage is going to accumulate since they won't catch US & EU per capita income levels at least in this half of century.which is a head start for companies from relatively lower income spacefaring nations before they incorporate optimum tech.
Yup, there will be very few yet even if cost advantage of current vendors deteriorates. Not so many countries have eco system or technological knowhow for a reasonable aerospace sector. And since this tech is strategic in nature, not so many countries will get it from their "master" nations.This is generally true with low tech items but countries with Lower labor cost and skills in Space technology should emerge by that time. I foresee few countries with lower labor cost but I do not foresee those countries emerging as space power who can provide space services at a lower cost. That is why I see India leading in High tech technology sectors with cost advantage for a long long time.