Indian Space Research Organisation (ISRO) Chairman S. Somanath has said that there are tremendous possibilities and potential for private players in the country’s space sector.
“The potential is very high and the possibilities are encouraging. We will be happy to engage with you and support you in realising your vision,” he said after inaugurating the carbon reduction initiative of SFO Technologies, the flagship company of NeST Group, in Kochi on May 11 (Saturday).
Mr. Somanath said New Space India Limited (NSIL), the commercial arm of the Department of Space, had called on private players to manufacture the launcher LVM3. “We wanted to look at a model where private players would work with NSIL on a public-private partnership model. This is the change that we wanted to bring about so that all these capabilities are exploited for commercial purposes more effectively and efficiently. This will also help the ISRO concentrate on its next steps related to manned missions to moon and a space station as those types of works required a lot of concentration and effort,” he added.
The chairman said the ISRO had already started moving its satellites to the private sector. “Ten of our satellites have already been moved from the ISRO to NSIL, and they are going to operate it commercially,” he said.
In his address at a function held at the Chavara Cultural Centre here on Saturday morning in connection with the 27th Jaiji Peter memorial meeting, Mr. Somanath said investing in the space sector remained crucial as technological advancements helped nations ensure immense growth.
