India will acquire an essential place in the Global Space Economy, ISRO Chief Sivan expresses confidence  

New Delhi: – K Sivan, the Chief of Indian Space Research Organisation (ISRO), welcomed the decision to open up the Indian space sector to the private sector. This decision will provide an impetus to the progress of the Indian space sector. Saying that now, the private companies will be allowed to build rockets and satellites, ISRO Chief K Sivan expressed confidence that Indian industries will become the major players in the Global Space Economy.   


Global Space Economy

A few days ago, the Indian government announced that the space sector would be opened up for the private sector. On Wednesday, the union cabinet of ministers approved the proposal. ISRO Chief has welcomed the development. Sivan said that space technology would benefit from this decision. A new agency, the National Space Promotion and Authorisation Centre, has been formed for this purpose. Under this, the private sector companies will be able to avail the infrastructure in the space sector. The ISRO chief said that the agency would be functional in the next 3 to 6 months.  

Private sector companies are operating in the space sector in countries like the United States, China and European countries. Sivan said that India would join the list of those countries of the world where a good private-sector system exists in the space sector. In the past, nearly 620 companies were collaborating to manufacture the satellite and other equipment for the Chandrayaan 2 project.  

ISRO is enthusiastic regarding the new project. Sivan expressed confidence that Indian importance in the Global Space Economy will increase. ISRO appeals to private companies to participate in its projects. This will provide a stimulus to the Make in India campaign. Sivan said that this would create employment opportunities. Sivan clarified that this would not affect any of the IRSO projects, in any way. Now ISRO is targeting a manned space mission. Sivan said that ISRO is contemplating to seek participation from the private companies in this mission. 

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