ISPA will help increase the participation of various companies in the field of space technology in the country, thus meeting the needs of the future space technology sector in the country faster.
Prime Minister Narendra Modi today established the Indian Space Association (ISPA). The organization will help meet the country’s growing needs in the field of space technology. The organization will be led by Istro, the Indian Space Research Organization. Given the increasing use of the Internet in the country and the need for artificial satellites, there is a need to increase the participation of private companies in the space technology sector. Istro will promote private companies in the country under space technology regulations.
“India’s space technology sector got a new lease of life. Until now, the government had a monopoly on space technology, which was controlled by the government. India has made a lot of progress in this field in the past few years. Anyway, the government’s monopoly in this field is It won’t come back. Now there is a need to give space to the quality of Indians, so why shouldn’t the sector be private,” he said, urging more and more private companies in the country to switch to the space technology sector.
The Indian Space Association has founding members such as Bharti Airtel, Larsen & Toubro, Nilco, OneWeb, Mabindia, and Chandnagar Industries. The use of satellites in various fields is increasing day by day in the country. The use of satellites, especially for the Internet, is likely to increase in the future, albeit at a much lower rate than in the rest of the world. Also, Istro now performs various missions with the Moon and Mars. This will require a great deal of cooperation from various companies in the country. Through this organization, the participation of private companies in the field of space technology will be increased. It is expected that local companies will be able to meet the needs of the country’s space technology sector in the future without having to rely on outside countries.
The current global trading volume of space technology is 360 billion yen, of which Istro accounts for only 2%. However, given Istro’s potential, the share could easily reach 9 percent by 2030, which would benefit the Indian economy as well. Thus the Indian Space Society was created to achieve this goal quickly and easily.
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