PM encourages private investments in space sector

Prime Minister Narendra Modi on Monday interacted with key industries, startups and academia from the space sector through video conferencing to encourage their participation in space activities.

He also expressed hope that the country would soon become a manufacturing hub of space assets.

The Prime Minister said that the decision to unlock India’s potential in the space sector has heralded a new age of public-private partnership in this sector.

He assured the participants of complete and wholehearted support of the government in this endeavour. He noted that the professionalism and transparency in policies as well as the decision-making process of the government will prove beneficial for the companies joining the space sector.

Taking note of the plans of companies to make rockets and satellites, Modi remarked that this marks a big change that will further strengthen India’s foray into the space sector.

He said that private investment in the sector will lead to the creation of hi-tech jobs, which will provide a host of opportunities to the talent pool in IITs/NITs and other technical institutions. He said that it is his firm belief that just like Indian talent has been able to attain worldwide fame in the IT sector, it will be able to do so in the space sector as well.

The Prime Minister also underlined the significance of the space sector in communication and navigation. He assured the participants that they will be co-passengers with ISRO in this age of space research and expressed hope that the country would soon become the manufacturing hub of space assets.