Article Posted on : - Aug 19, 2024

Prime Minister Narendra Modi greets the gathering at the Red Fort on 78th Independence Day, in New Delhi, Thursday, Aug. 15, 2024. A PTI Photo

NEW DELHI (PTI): A "vibrant" space sector is playing a key role in making India a strong country after it was liberated from the restrictions of the past, Prime Minister Narendra Modi has said.

Addressing the 78th Independence Day celebrations from the Red Fort last Thursday, Modi said his government was strengthening the space sector, which has spawned hundreds of start-ups, as part of its long-term vision.

"Private satellites and private rockets are being launched today. It is a matter of pride. When intentions are right, we get the desired results," he said.

"Hundreds of start-ups have come up in the space sector. It is an important part of making India a powerful nation. We are strengthening it with far-sighted thinking.

"We have made many reforms in the space sector. We have liberated it from the restrictions of the past," he added.

The prime minister said the success of Chandrayaan has fired up an interest in science and technology in schools and colleges. "Our educational institutes will have to come forward to nurture this interest in science and technology."

Modi said the government has increased support for research by setting up the National Research Foundation and granting it statutory cover. The government has a permanent system through the NRF to strengthen research in universities, he said.

"It is a matter of pride that we have also set aside Rs 1 lakh crore for research and innovation so that the ideas of the youth are turned to reality," Modi said.

The space industry welcomed the prime minister's comments on the nascent space sector.

Indian Space Association (ISpA) Director General Lt Gen A K Bhatt (retd) said the Indian space sector has undergone significant transformation in recent years, marked by path breaking reforms such as privatisation, the introduction of a comprehensive space policy, and liberal FDI regulations.

"These changes have laid a strong foundation for India to consolidate its position in the global space economy. We extend our heartfelt gratitude to the Indian government for its keen interest and recognition of the need for a robust space industry in India, understanding the importance of the country taking a leading role in this critical sunrise sector," Bhatt said.

He also predicted a fast growth of the private sector in the field, which, he said, will eventually lead to innovation.

"With continued, unequivocal and visionary support from the government, the private space sector is poised for exponential growth in the coming decade, driving innovation, attracting global investments, and fostering collaborations that could help position India in the forefront of space technology and exploration," Bhatt added.