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Business News/ News / India/  Chandrayaan-3 launch sets stage for space startup ecosystem: Jitendra Singh
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Chandrayaan-3 launch sets stage for space startup ecosystem: Jitendra Singh

The minister said that of 424 foreign satellites launched till date by India, 389 were launched in the last nine years of the government headed by Prime Minister Narendra Modi.

Indian spacecraft Chandrayaan-3, the word for 'moon craft' in Sanskrit, travels after it was launched from the Satish Dhawan Space Centre in Sriharikota on 14 July 2023. (Photo: AP)Premium
Indian spacecraft Chandrayaan-3, the word for 'moon craft' in Sanskrit, travels after it was launched from the Satish Dhawan Space Centre in Sriharikota on 14 July 2023. (Photo: AP)

New Delhi: Union minister Jitendra Singh on Saturday said that the successful launch of Chandrayaan-3 will boost space startups and space entrepreneurs.

Addressing the G20 Young Entrepreneurs Alliance Summit, the minister said that the Indian Space Research Organization (ISRO) had made history in November last year by launching successfully India’s maiden private Vikram-suborbital (VKS) rocket.

He called upon the young scientists and youth of the G20 nations to explore space possibilities through lucrative startup ventures, even in joint mission mode to herald a new age of space entrepreneurship.

The minister informed the gathering that of 424 foreign satellites launched till date by India, 389 were launched in the last nine years of the government headed by Prime Minister Narendra Modi.

He also added that from January 2018 to till date, ISRO has successfully launched over 200 foreign satellites belonging to major G20 countries including USA, United Kingdom, France, Italy, Australia, Brazil, Canada, Japan, Republic of Korea apart from satellites of Colombia, Finland, Israel, Lithuania, Luxembourg, Malaysia, Netherlands, Singapore, Spain and Switzerland, on-board PSLV and GSLV-MkIII launchers under commercial agreement.

Singh called for public-private participation both at the national and international level, particularly among G20 countries to vigorously pursue the business in space and other allied sectors.

He also pointed out that during the recent visit of Prime Minister Narendra Modi to the United States, it became clear that America treats India as an equal partner and collaborator in space exploration. He said NASA is today soliciting India’s astronauts and the Artemis Accord, where India is also one of the signatories, is also proof of India’s great Space march.

The minister said, PM Modi, who concluded his visit to France yesterday, discussed with President Emmanuel Macron cooperation under key pillars of this partnership, including Space, security, civil nuclear technology, counter terrorism, cyber security, climate change and integration of supply chains among others.

Coming back to the theme of the conference, Singh said, at a time when the role and importance of India and that of the prime minister is rising day by day, it is only fitting that the Presidency of G20 is with the country this year. He noted with satisfaction that today India is the fifth largest economy in the world and it hopes to become the third largest in the next 10-15 years.

The minister took pride in the fact that India has a strong network of science and technology institutions and trained manpower. It has the third-largest scientific and technical manpower in the world. India has over 1000 universities. India’s GERD as a percentage of GDP stood at around 0.65%.

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Published: 15 Jul 2023, 06:08 PM IST
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