IN-SPACe gets 67 proposals from private entities including large players, MSMEs/start-ups for launch vehicles, satellites, space applications etc

Ahmedabad: Prime Minister Narendra Modi on Friday called for increased participation of private sector in the country's space programme thereby increasing India's contribution to the global space industry.

"Today, the global space industry is worth ₹400 billion, which is set to touch ₹1 trillion by 2040. Our (India's) participation is just two per cent in this. We have to increase our share in the global space industry. Private sector has a big role to play here," said Modi after launching the headquarters of Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bhopal, Ahmedabad.

Modi stated that IN-SPACe will act as a single window independent nodal agency to address the needs of the private sector while engaging in India's space programmes. Modi stated that fuelled by private entrepreneurship, India has strong possibilities to emerge a big player in space tourism and space diplomacy.

"We have limitless opportunities, but they can't be realised with limited efforts," he said stating that the past governments did little to tap the zeal and enterprising spirit of Indian youth for the benefit of space sector of the country. "I assure you, the reforms in space sector will continue unconstrained in future," he said. ISRO's space missions will combine with the passionate private sector. For start-ups and private entities, ISRO will facilitate transfer of technology, while providing access to its resources for collective good.

So far, IN-SPACe has received 67 proposals in the areas of launch vehicles, satellites, space applications, ground systems and research from the entities across industries, MSMEs/start-ups, academia, NGOs and industrial associations and individuals.