ISRO's Call for Investment in Space Sector: ISRO chairman S Somanath urged Indian industry leaders to take bold steps toward investing significantly in the space sector. Speaking at the Indian Space Conclave, Somanath emphasized the need for India to develop its own rockets and associated systems to achieve the nation's goal of becoming a space power by 2047.
Concerns Over Low Investment in Upstream Space Sector
During his address, Somanath expressed concern about the "elusive" investments in India's upstream space sector. This sector includes critical components such as launch vehicles, telemetry, tracking, command stations, and both hardware and software for ground operations. He highlighted that India’s share in the global space economy remains limited, underscoring a need to inspire future leaders and promote dynamic involvement within the industry.
India's Space Economy Poised for Growth
India’s current space economy, valued at $8.4 billion, is projected to expand to $45 billion over the next decade. However, Somanath noted a lack of interest from major Indian companies in investing in upstream operations, despite continuous engagement efforts by ISRO. This gap, he said, holds back India’s potential to fully leverage and grow its space sector.
Big Industry Houses Encouraged to Take Risks
Somanath addressed the need for larger Indian companies to actively engage in the space sector, either independently or through collaborative efforts. He acknowledged the inherent risks and long development times required in this field due to rapidly advancing technology. Despite the emergence of start-ups, he emphasized that scaling up and achieving competitiveness against global players would require significant investment and risk-sharing, which only larger industries could afford.
Bigger Players Needed to Propel India's Space Ambitions
According to Somanath, the involvement of major industry players is essential for scaling the Indian space sector. He stressed that large-scale investments and risk tolerance are crucial for creating leading space companies within India that can produce competitive products and take the nation’s space capabilities to a global level.
ISRO's Efforts to Support Industry Involvement
To support this vision, ISRO has taken steps to involve private industry more deeply. Last year, its commercial arm, NewSpace India Limited, awarded a contract to a consortium led by L&T and HAL to manufacture five Polar Satellite Launch Vehicles. Additionally, ISRO is offering to transfer the technology of its Small Satellite Launch Vehicle (SSLV) to private companies, enabling them to produce these rockets independently in the future.
Building a Self-Reliant Space Sector for India’s Future
Somanath concluded by urging Indian companies to build comprehensive capabilities in space technology — from design and manufacturing to the delivery of cost-effective products on the global stage. This vision, he said, is not just about service provision but about establishing a robust industry capable of spearheading India’s space ambitions.
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