Looking to further increase private participation, the government will soon unveil a new space policy that could see the rise of India’s own “SpaceX-like ventures”, Principal Scientific Advisor Ajay Kumar Sood has said.
In an interview to PTI, the government’s top science advisor said consultations have taken place and the final version of the space policy would soon be refer to the Empower Technology Group for further examination.
Ajay Kumar Sood Said :
Ajay Kumar Sood said the government will encourage manufacturing of satellites in the private sector for a range of applications from health care, agriculture to urban development and property tax estimation.
Ajay Kumar Sood Said :
SpaceX, founded by Elon Musk in 2002, is a private space transportation company that designs, manufactures and launches advanced rockets and spacecraft.
He said there were immense opportunities for use of space technology for the benefit of humankind but there were limitations on what Indian Space Research Organisation (ISRO) could do.
Ajay Kumar Sood Said :
With the opening up of the space sector, there could be dedicate satellites for various sectors such as agriculture, education, disaster management, e-commerce applications, Ajay Kumar Sood said.
Ajay Kumar Sood Said :
According to industry estimates, the global space economy is pegged at $423 billion (approx. Rs. 3,279 crore) with India constituting 2% to 3%.
Morgan Stanley estimates that the global space industry will expand up to one trillion dollars by 2040.