New Delhi, Aug. 24:
Prime Minister Narendra Modi has urged India’s private space companies to build a global reputation for innovation and make the country a preferred destination for talent and entrepreneurs in the space sector.
Modi made the remarks during an interaction with CEOs and founders of 20 space startups, stressing India’s cost competitiveness, large talent pool and risk-taking capacity as key strengths that could help the country rapidly expand its presence in the global space industry.
The Prime Minister said India should create an ecosystem in which people across the world aspire to build their careers in the country’s space sector.
He said Indian startups and space companies should become magnets for global talent, including professionals who had moved abroad and were now looking to return to India.
Modi also highlighted the importance of policy stability and investor confidence. He said entrepreneurs taking risks should have confidence that government decisions would remain consistent and that they would not be abandoned if they encountered difficulties.
India’s cost advantage and availability of skilled manpower, he said, could help the country establish a strong position in the global space industry.
During the interaction, space-sector entrepreneurs highlighted the progress made since the industry was opened to private players. Skyroot Aerospace, India’s first space-tech unicorn, was cited as having successfully launched India’s first privately developed rocket into orbit.
The startups said they were targeting one launch every month by the middle of 2027, with a long-term ambition of increasing the frequency to one launch a week and eventually several launches a day.