India to soon have its own SpaceX-like ventures

The Indian government is planning to unveil a new space policy soon that will allow SpaceX-like ventures to build satellites for a range of applications.

Ajay Kumar Sood, the Principal Scientific Advisor to the Government of India, said the “space policy is in the works.”

“Space policy is in the works. We have not been using it much, but the new technology of low earth orbit (LEO) satellites are a low-cost game. There are a huge number of satellites in LEO. That will change the space sector,” Ajay Kumar Sood told news agency PTI.

Sood sounded confident about having a private satellite manufacturing company in a couple of years.

“We have not tapped the full potential of this sector. In 2022, the space sector is witnessing what the information technology sector experienced in the 1990s. We will have our own SpaceX in the next two years,” Sood said.

CONNECT THE UNCONNECTED

Sood, who assumed office in April this year, believed that the new space technology would benefit the people of India.

“New launch vehicles are being developed, new fuels for spacecraft are being developed. This will connect the unconnected. The theme – connect the unconnected – will happen when we open up the space sector,” Sood said.

He further said that the space policy would enable private companies to manufacture satellites for various sectors like e-commerce, agriculture, education, disaster management, etc.

“Edusat was launched in 2004. The second version has not been launched yet. So, why not let the private sector come into the business? That will happen. For the agriculture sector, we can have satellites that can give information about climate, and soil conditions. It can be called E-Krishi. The thought process is already on. What is lacking are the satellites,” Sood said.

According to Morgan Stanley, the $350 billion global space industry could surge to over $1 trillion by 2040.

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