Indian space industry offers tremendous opportunity to Pvt sector

ISRO chairman S Somanath said the union Government envisages the space sector in the country to become a 9 to 10 billion dollar industry in the next5-10 years from the Current levels of 2 billion dollars.

He the Indian space industry is offering a tremendous opportunity to the private sector in the country as a new area of growth and development.

He said the Union Government envisages the space sector in the country to become a 9 to 10 billion dollar industry in the next 5-10 years from the current levels of 2 billion dollars.

Somanath was speaking after unveiling the carbon reduction initiative of SFO Technologies,the flagship company of NeST group,in a function here on Kochi,a company release said.He also said that 400 private sector companies have benefitted from the technology developed by ISRO.

Companies like SFO Technologies are well positioned to take further advantage to take further advantage of new policy initiatives in the space sector by the Government Of India "The Indian space industry is offering a tremendous opportunity for the private sector in the country as a new area of growth and development" The ISRO chief added.

He also unveiled a replica of Chandrayaan at the campus highlighting the cooperation of SFO technologies and ISRO.SFO technologies has close association with ISRO for many years,It said ,adding that the two have worked in multiple programs such as the RF sub-Systems for Chandrayaan and Aditya missions , manufacturing of Antenna systems and Cryogenic Engine control Systems for launch vehicles.

NeST group Chairman N Jehangir said discussions are on with ISRO for various projects including the ambitious "Gaganyaan' Mission,aiming to carry human beings to the space for the first time.SFO technologies and Nest group are committed to protecting the environment and reducing carbon emissions,said Althaf Jehangir,CEO of the group.