Finance
Prime Minister Narendra Modi has spoken with the CEOs of 20 space firms, including Skyroot Aerospace, ahead of National Space Day (August 23), which commemorates the historic Chandrayaan-3 moon landing.
PM Modi urged young entrepreneurs to make India a worldwide space hub by building a strong ecosystem capable of attracting top global talent. “I believe that we can draw the entire talent pool because of you, and that will become our strength,” he stated. He noted that India’s competitive advantage stems from its cost-effectiveness, deep skill pool, and high risk tolerance.
According to one of the founders, the recent boom in the sector has prompted Indians working overseas to return.
During the meeting, company founders discussed progress on a number of cutting-edge projects, including constructing global ground-station networks, manufacturing satellite engines, developing space-debris-removal robotics, and pioneering orbital docking and refueling capabilities. One startup showcased its ongoing research into pharmaceutical production in microgravity situations.
Pawan Chandana, co-founder of Skyroot Aerospace, which recently became the first private Indian company to conduct an orbital launch, shared ambitious growth plans following their recent mission.
“We already have three factories with the capacity to manufacture one rocket per month. By mid-next year, we plan to execute one launch per month, with the ultimate dream of scaling to multiple launches a day,” Chandana said, noting the company has already secured eight launch contracts, mostly from foreign clients.
Startup leaders have praised the government’s supportive policy framework since the sector opened to private operators in 2020. PM Modi emphasized policy continuity and assured entrepreneurs of constant support.
“You have shown courage in a new space, and importantly, you have trusted the government. When we were opening up… whatever we decide, we should not make changes so that whoever is investing can trust that no one will leave my hand.”
Source: IE
