Continued from P1

The CEOs said the government’s decision to open the space sector to private participation had generated considerable enthusiasm and created multiple new opportunities for entrepreneurs. They also appreciated the support extended by the government and spoke about growing collaboration within the industry.

Congratulating the entrepreneurs for entering and expanding in a relatively new area, Modi said the confidence demonstrated by private space companies had reinforced the vision behind opening the sector to private participation.

The Prime Minister pointed out that several countries either lacked the resources to invest in space or were not inclined to make such investments, arguing that this provided India with a significant opportunity to strengthen its position in the global space industry. He urged the companies to explore applications beyond their existing areas of work and focus on how space technologies could make people’s lives easier. Modi also stressed the importance of closer cooperation between space companies and organisations working in other sectors.

Citing examples, he suggested that companies developing technologies to tackle space debris could collaborate with environmental organisations to expand their applications. Similarly, space technology firms working in agriculture could partner with agricultural universities and government departments to help farmers take better-informed decisions and improve productivity.

Modi called for building an ecosystem in which India becomes a natural destination for global space-related innovation and investment. He said the country’s space sector could become a “magnet” for global talent, companies and investment.