Big industry needs to take plunge in space sector, says Isro chief Somanath

Quick Summary:

Addressing the Indian Space Conclave here, Somanath voiced concern over the "elusive" investments in the upstream sector of the space industry comprising launch vehicles, hardware and software for ground-based stations, telemetry, tracking and command stations.

ISRO chairman S Somanath on Tuesday urged industry houses to invest in the space sector in a big way to build rockets and allied systems for India to emerge as a space power by 2047.

He said the share of the Indian space economy in the global market was very low and there was a need to encourage and inspire the next generation of leaders to come into the sector and create a vibrant activity.

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Category: BusinessFinance

Markets: IndiaOman

Topics: S Somanath Hindustan Aeronautics Space sector ISRO Somanath Space power

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 18:55:44 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 530 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 34 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23431606

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