Charting a New Course: ISRO Chief Advocates Musk-Inspired Model to Boost India’s Space Economy.
In a move to propel India’s space ambitions to new heights, S Somanath, the Chairman of the Indian Space Research Organisation (ISRO), has emphasized the need to adopt an economic model akin to Elon Musk‘s approach in space exploration.
Somanath’s remarks were made during the Huddle Global 2024 event hosted by the Kerala government, where he highlighted the potential for India to leverage revenue-generating technologies and private funding to fuel its space endeavors.
While India has achieved remarkable feats in space exploration, with missions like Chandrayaan and the Mars Orbiter, its presence in the global $386 billion space economy is relatively modest – just 2 percent, or $5 billion.
Somanath believes that a key strategy to achieve these targets lies in significantly increasing the number of operational satellites, from the current 15 to around 500.
According to reports, the ISRO chief has emphasized the critical role of private entities and startups in bolstering India’s space ambitions. He has highlighted areas such as small satellite development, geospatial solutions, communication systems, and orbital transfer vehicles as prime opportunities for private sector involvement.
Efforts are underway to transfer ISRO’s research and technology to private players, fostering collaborations across various industries.
The ISRO’s future projects, including the Gaganyaan human spaceflight program and the proposed Indian Space Station, will be executed through partnerships between the organization and private enterprises.
This collaborative approach is expected to expand India’s capabilities in interplanetary exploration and drive economic growth in the space sector.
Somanath’s endorsement of Elon Musk’s economic model in space exploration underscores the potential for India to leverage revenue-generating technologies and private funding to fuel its space ambitions.
By emulating Musk’s strategy of designing rockets for both intercontinental travel and interplanetary missions, ISRO aims to establish a sustainable framework that reduces its reliance on government resources.
