PM Modi says India can ‘very quickly’ make its place in global space sector: ‘We must create an aura that…’

Prime Minister Narendra Modi envisions India rapidly ascending as a global leader in the space sector, urging private companies to cultivate an environment that draws both international talent and investment. He reaffirmed the government's dedication to fostering innovation within the burgeoning industry.

During an interaction with CEOs and founders of 20 private space firms, Modi highlighted India's cost-competitiveness in space launches and its deep pool of domestic talent. "We must create such an aura that people all over the world feel that if they want to build their life, they should come to Hindustan. Join some Indian start-up. Join some Indian space agency," he remarked.

“

We must create such an aura that people all over the world feel that if they want to build their life, they should come to Hindustan. Join some Indian start-up. Join some Indian space agency.

India's space sector has seen significant expansion since opening to private participation in 2020. The number of private space startups has surged from a single entity in 2014 to 440 at present. The Indian Space Policy 2023 further broadened industry involvement across the entire space value chain.

Private investment in India's space sector has seen a nearly six-fold increase, rising from $100.5 million in 2021–22 to a projected $618.5 million by March 31, 2026. The government anticipates India's current $9 billion share of the global $600 billion space industry will grow to $40-45 billion over the next decade. Modi emphasized India's competitive edge in cost and talent, coupled with its people's inherent risk-taking capacity, as key drivers for this rapid growth.

“

In cost we are very competitive, in talent there is no question at all, and the risk-taking capacity of our people is anyway greater. And because of that we can very quickly make our place.