Modi says India needs to increase its share in global space industry, with a big role for the private sector
Prime Minister Narendra Modi at the inauguration of the headquarters of Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bopal, Ahmedabad on June 10, 2022.

Modi says India needs to increase its share in global space industry, with a big role for the private sector

Ahmedabad, June 10, 2022

Prime Minister Narendra Modi today emphasized that India needed to increase its share in the global space industry and was confident that the private sector would play a big role in this journey.

Speaking at the inauguration of the headquarters of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) at Bopal here, he also saw a strong role for India in the fields of space tourism and space diplomacy.

"There are infinite possibilities in our country but infinite possibilities can never be realized with limited efforts. I assure you that this process of reforms in the space sector will continue uninterruptedly," he said.

Modi said the private sector must be heard and understood and business possibilities should be analyzed properly. He said that, for this, a strong mechanism has been put in place.

"IN-SPACe will act as a single window, independent nodal agency to take care of all the needs of the private sector," he said.

The programme also witnessed the exchange of MoUs between IN-SPACe and private sector companies working in the field of space-based applications and services. The promotion and enabling of private entities in the space sector is expected to provide a major fillip to the space sector and open up new vistas of opportunity for India’s talented youth.

Union Home Minister Amit Shah and Gujarat Chief Minister Bhupendrabhai Patel were among those present on the occasion.

The Prime Minister termed the launch of IN-SPACe as a "watch this space" moment for the Indian space industry as it will be a precursor to many developments and opportunities.

“IN-SPACe will give an opportunity to the youth of India to showcase their talent to the best minds of India. Whether they are working in the government or in the private sector, IN-SPACe will create great opportunities for all. IN-SPACe has the potential to revolutionize India's space industry," he said.

The Prime Minister said that for a very long time, the private sector in the space industry had been viewed merely as a vendor, a system that always blocked the ways of progress for the private sector in the industry.

He said that, by reforming the space sector, freeing it from all restrictions, by supporting the private industry through IN-SPACe, the country is starting a campaign to make winners today.

"The private sector will not just remain a vendor but will play the role of a big winner in the space sector. When the strength of government space institutions and the passion of India’s private sector will meet, not even the sky will be the limit," he said.

The Prime Minister said that in the earlier system, India’s youth were not getting the opportunities to realize their potential fully.

"Indian youth bring innovation, energy and a spirit of exploration with them. It has been the misfortune of the country that with time, the difference between regulation and restriction was forgotten. Today, we cannot put the condition of only the government route for carrying out their plans before our youth," he said.

He said the era for such restrictions is over and the government is removing all such restrictions from the path of the youth. He listed the opening of defence production, modern drone policy, geo-spatial data guidelines, and work from anywhere facility in the telecom/IT sector as examples of the government’s intentions.

"It is our endeavour to create maximum Ease of Doing Business environment for the private sector of India so that the private sector of the country helps the countrymen equally in the Ease of Living.

"Whether one is a scientist or a farmer-labourer, understands the techniques of science or does not understand, transcending all that, our space mission becomes the mission of all the people of the country. We saw this emotional solidarity of India during Mission Chandrayaan," he said.

He expressed happiness that more than 60 private companies are leading in the country’s space sectors with advanced preparation. He singled out Indian Space Research Organization (ISRO) for praise for bringing about this momentous change in the space sector of the country. He reiterated the importance of the step of opening up the space sector and credited the expertise and determination of ISRO for this initiative. India’s space programme has been the biggest identity of Aatmnirbhar Bharat Abhiyan, he said.

“Space-tech is about to become the basis of a major revolution in the 21st century. Space-tech is now going to become a technology not only of distant space but of our personal space,” he said.

Modi said that IN-SPACe needed to work continuously for making the gains of space technology accessible to the people of the country.

He said that data collected by the private space companies is going to give them huge power in future. He said that the global space industry is valued at $ 400 billion and has the potential to become a $ 1 trillion industry by 2040.

Modi said the government was working on a New Indian Space Policy for coordinating between government companies, space industries, startups and institutions. "We are soon going to bring a policy to improve ease of doing business in the space sector," he said.

He said Space and Sea were going to be the most influential areas in the future of humanity and its development in the coming times.

"India needs to move forward without delay in these areas. There is a need to increase awareness about the strides and reforms by India in this field," he added.

The establishment of IN-SPACe was announced in June 2020. It is an autonomous and single window nodal agency in the Department of Space for the promotion, encouragement and regulation of space activities of both government and private entities. It also facilitates the usage of ISRO facilities by private entities.

NNN

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