'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.

May 12, 2024 - 19:20
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'Indian space industry is giving tremendous opportunities to private companies', ISRO chief said in the program    

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.

SFO Technologies has had a close relationship with ISRO for many years. Both have worked on several programs such as the manufacturing of RF sub-systems, antenna systems for the Chandrayaan and Aditya missions, and cryogenic engine control systems for launch vehicles. The ISRO chief said, 'The Indian space industry is providing a tremendous opportunity for private companies as a new area of growth and development.'

On this occasion, the ISRO chief planted a sapling in NEST Hi-Tech Park. Besides this, Somnath also unveiled a replica of Chandrayaan on the campus, highlighting the collaboration between SFO Technologies and ISRO. He later interacted with NEST engineers and the management team.

NEST Group's carbon reduction initiatives are in line with the United Nations' objective of achieving a 50 percent reduction by 2035 and net zero emissions by 2040, the release said.

NEST Group Chairman N Jahangir said discussions are underway with ISRO for various projects including the ambitious 'Gaganyaan' mission aimed at sending humans into space for the first time. Althaf Jahangir, CEO and Executive Director, of SFO Technologies, Hardware and Manufacturing, said that SFO Technologies and NEST Group are committed to protecting the environment and reducing carbon emissions.

He also said that they have signed agreements with several partners to create a model of being a socially responsible organization by reducing carbon pollution. Nazneen Jahangir, CEO and Executive Director, Nest Digital also spoke on the occasion.

Muskan Kumawat Journalist & Writer