India to emerge as a leader in global satellite launch ecosystem in coming times: PM Modi

Prime Minister Narendra Modi today said India has transformed its space sector into an open, cooperative and innovation-driven ecosystem in the last six to seven years, adding that the country possesses capabilities in the space sector that few nations in the world possess. Modi said India will emerge as a leader in the global satellite launch ecosystem in the coming times.

Unveiling Skyroot’s first orbital rocket, Vikram-I, with capability to launch satellites to orbit, PM Modi said India’s youth power, with its innovation, risk-taking ability and entrepreneurship, is reaching new heights and ISRO has powered India's space journey to new heights for decades, through its credibility, capacity and value. PM Modi said India has carved out a distinct identity in the global space landscape.

Modi today also inaugurated the Skyroot’s Infinity Campus in Hyderabad, Telangana via video conferencing. Addressing the gathering on the occasion, the Prime Minister said the nation is witnessing an unprecedented opportunity in the space sector and highlighted that India’s space ecosystem is experiencing a major leap with the private sector taking flight.

“From carrying rocket parts on a bicycle to developing the world’s most reliable launch vehicles, India has proven that the height of dreams is determined not by resources but by resolve. ISRO has for decades given new wings to India’s space journey and stressed that credibility, capacity, and value have established India’s distinct identity in the sector,” PM Modi said.

PM Modi said given the significance of the space sector as it has become the foundation for communication, agriculture, marine monitoring, urban planning, weather prediction and national security, historic reforms were undertaken by the government in the sector. The space sector has been opened up to private innovation and a new Space Policy has been put in place. “Efforts were made to connect startups and industry with innovation, and IN-SPACe was established to provide ISRO’s facilities and technology to startups,” said Modi.

“The changes being witnessed in the space sector are part of the broader startup revolution taking place in India. Over the past decade, a new wave of startups has emerged across diverse sectors such as FinTech, AgriTech, HealthTech, ClimateTech, EduTech and DefenseTech, with India’s youth, particularly the Gen-Z generation, providing innovative solutions in every field,” Modi said.  

“India has now become the world’s third-largest startup ecosystem. There was a time when startups were confined to a few big cities, but today they are emerging from small towns and villages as well,” he said adding that the country now has more than 1.5 lakh registered startups, with many of them having achieved unicorn status.

PM Modi also underscored the fact that India is no longer confined to apps and services and is now advancing rapidly towards deep-tech, manufacturing, and hardware innovation.