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'Indian space industry is giving tremendous opportunities to private companies', ISRO chief said in the program
ISRO chief Somnath said that the central government has envisioned making the space sector in the country a nine to 10 billion dollar industry in the next five to 10 years.
ISRO Chairman S Somnath says that the Indian space industry is offering tremendous opportunities for the private sector in the country as a new area of growth and development. He said that the Central Government has envisaged making the space sector in the country a nine to 10 billion dollar industry in the next five to 10 years.
Somnath said this after unveiling the carbon reduction initiative of SFO Technologies, the flagship company of NEST Group, at a function here on Saturday, the release said. He said that 400 private sector companies have benefited from the technology developed by ISRO for its various missions.
Notably, businesses such as SFO Technologies are capitalizing on recent policy measures introduced by the Indian government in the space sector. For many years, ISRO and SFO Technologies have maintained a close working relationship. The production of radio frequency subsystems, antenna systems for the Chandrayaan and Aditya missions, and cryogenic engine control systems for launch vehicles are just a few of the projects to which both have contributed.
