Bengaluru: Establishing 'Space Parks' in all states is essential to enhance the quality of technology in India's space-sector startups, former Indian Space Research Organisation (ISRO) Chairman S. Somanath said on Thursday. He was speaking at a panel discussion on The Future of the Commercial Space Sector at GIM Invest Karnataka 2025.
Somanath noted that earlier, private participation in the space sector lacked clarity. However, with the government now formulating a clear policy, he believes this is the right time for investment. "There are vast opportunities for private participation and investment in the commercial space sector. Startups and young entrepreneurs should capitalise on this momentum," he said.
He highlighted key areas for investment, including satellite manufacturing and launch, satellite operations, infrastructure development, communication applications, data services, and data analysis. He added that businesses offering satellite-based services in sectors like weather forecasting, fisheries, the blue economy, and agriculture would see even greater opportunities in the future.
Addressing the role of funding, Somanath stressed the importance of venture capital for startups. He also noted that the government is extending financial support through various programmes and emphasised the crucial role of state governments in fostering the space ecosystem.
Somanath further explained that, in the past, the government had to make significant investments to provide information, knowledge, and data to the public. However, with advancements in information technology and private sector initiatives, such data is now freely accessible. "Startups should leverage this freely available data to drive innovation and growth," he advised.
Jacob Gallish, Executive Director of the Digital Economy Division at the US-India Business Council, also spoke at the event. He acknowledged India's leadership in sectors such as space, information technology, semiconductors, and science & technology. "India has a vast pool of skilled and talented engineers who have the potential to bring revolutionary changes to the global commercial space sector," he said.
