Former ISRO Chairman Advocates for Space Parks Across India
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Synopsis
Former ISRO Chairman S. Somanath emphasized the necessity of enhancing technology in space startups and establishing 'Space Parks' across India during the Global Investors Meet. He highlighted the expanded opportunities for private investment in the commercial space sector, urging startups to utilize the available data and government support.
Key Takeaways
- Space Parks are essential for technology growth.
- Clear government policies pave the way for private investment.
- Investment opportunities exist in satellite manufacturing and services.
- Startups should leverage freely available data.
- India's skilled workforce can revolutionize the global space sector.
Bengaluru, Feb 13 (NationPress) The quality of technology in space-sector startups needs to improve significantly, and the creation of 'Space Parks' in every state is imperative, stated former Indian Space Research Organisation (ISRO) Chairman S. Somanath on Thursday.
During a panel discussion on The Future of the Commercial Space Sector at the Global Investors Meet (GIM) Invest Karnataka 2025, he mentioned that previously, there was a lack of clarity regarding private involvement in the space sector. However, with the government now developing a clear policy, the timing is ideal for investment.
Somanath emphasized the extensive opportunities available for private investment in the commercial space industry. Startups and emerging entrepreneurs should seize this moment. Venture capital is essential for startups, and the government is also providing financial backing through various initiatives. In this context, the participation of state governments is crucial, he pointed out.
Somanath identified significant investment prospects in sectors such as satellite manufacturing and launch, satellite operations, infrastructure development, communication applications, data services, and data analysis.
He stressed that in the future, companies providing satellite-based services in domains like weather forecasting, fisheries, the blue economy, and agriculture will encounter even greater opportunities.
He further elaborated that previously, the government had to invest significantly in disseminating information, knowledge, and data to the public. However, thanks to the information technology revolution and private efforts, information and data are now readily accessible. Consequently, the government no longer bears the financial burden of investment in this sector. Startups should leverage this readily available data, he advised.
Jacob Gallish, Executive Director of the Digital Economy Division at the US-India Business Council, remarked that India is a global leader in sectors like space, information technology, semiconductors, and science and technology.
He further affirmed that India, with its vast pool of skilled engineers, possesses the potential to bring about revolutionary changes to the global commercial space sector.
