Prime Minister Shri Narendra Modi interacted with CEOs of Indian space startups and lauded their courage in venturing into a new sector, particularly appreciating the trust they had placed in the Government. During the interaction, a CEO of Skyroot described the company as India’s first space-tech unicorn and referred to the successful July 18 launch of India’s first private rocket, which deployed satellites. Describing the achievement as only a “warm-up” and the beginning of Skyroot’s journey, the CEO said the company aimed to undertake one launch per month by the middle of next year. Thanking the Prime Minister for opening up the sector, the CEO said three factories had already been established and capacity for producing one rocket per month was already in place, with the future ambition of undertaking one launch per week and eventually several launches per day. Against the backdrop of entrepreneurs taking such risks and pursuing ambitious goals in a newly opened sector, the Prime Minister underlined the importance of creating trust through predictable policymaking, so that those taking risks remained assured that they would not be abandoned even if something went wrong because of their own mistakes. “Whatever decisions we take, we should remain consistent with them and should not keep changing them repeatedly,” emphasised Shri Modi.
Highlighting the growing confidence generated by India’s emerging private space ecosystem, the Prime Minister interacted with an entrepreneur who said that the company had developed an engine that ranked among the most advanced in the world and that its testing was underway. The Prime Minister enquired about investor confidence following Skyroot’s first launch and whether the pathway created by it was proving useful. The CEO said investor confidence had increased following the launch and that the pathway was proving very useful. Another CEO said that after a single launch, the company had received eight launch contracts in the last one month, most of them international. Drawing attention to the wider impact that such breakthroughs could have on the visibility of Indian enterprises globally, “The world must now be looking for Indian startups, asking who is there in this field. Because once there is a breakthrough, people’s attention immediately turns towards it,” observed Shri Modi.
Focusing on the opportunity for India to become a global hub for space talent and innovation, the Prime Minister took note of an encouraging trend highlighted by a CEO, who said that after the opening up of the space industry, Indian citizens based in the US and Europe were seeking to return and work with Indian companies. Referring to Shri. Mehta’s observation that people who had gone abroad were now returning, he stressed the need to bring many more people into the sector and create an environment in which people from across the world would look towards India to build their careers in space. During the wider interaction, CEOs outlined ambitions and technologies spanning a global ground station network over the next 18 months, robotic spacecraft capable of physically capturing dead satellites and removing them from orbit, docking and refuelling technologies aimed at establishing a fuel station in space, and satellites capable of manufacturing pharmaceuticals in space and bringing them back. An entrepreneur named Antariksh, whose co-founder Monika was also present, described their venture as India’s first space-pharma startup; when the Prime Minister asked whether his name reflected an earlier family association with the field, Antariksh said that it did not and that his mother had named him. Envisioning India as a destination for global space talent, PM Modi said people around the world should feel that if they wanted to build a life in this field, they should come to India and join an Indian startup or space agency. “I firmly believe that, because of you, we can attract the entire talent pool like a magnet, and that can become a very great strength for us,” asserted Shri Modi.
Underlining India’s competitive advantages in the global space sector, the Prime Minister heard from an entrepreneur whose company manufactures engines that move satellites from one place to another in space and enable them to operate for periods ranging from five to 15 years. The CEO said that the company had received strong global traction and referred to Government support for enabling Indian companies to export. Another startup representative said that the company was planning to launch its innovation with 10 lakh farmers. Towards the conclusion of the interaction, a CEO presented the Prime Minister with a memento and explained that it showed the beauty of India as seen through a private satellite following the opening up of the sector to private participation. Reflecting on the strengths that could enable Indian companies to make their mark rapidly, “We are highly competitive in terms of cost; there is no question whatsoever about our talent, and the risk-taking capacity of the people of our country is also quite high. Because of this, we can establish our position very rapidly,” asserted Shri Modi.
