During the 13th convocation ceremony at IIIT Delhi on October 26, 2024, ISRO Chairman Dr. S. Somanath emphasized the urgent need for India to undergo a revolutionary transformation to become a developed economy [6c6fb55f]. He highlighted that technological advancements and product development are essential, stating that India's growth cannot rely solely on trade and resources [6c6fb55f].
Somanath praised the innovative contributions of figures like Elon Musk to the space sector, noting that such achievements inspire global efforts, including those at ISRO [6c6fb55f]. He pointed out that India is currently the fifth-largest global economy and stressed the necessity of enhancing expertise in propulsion, material sciences, and orbital dynamics to advance further [6c6fb55f].
In addition to these insights, ISRO continues to expand its expertise and technology in support of oceanographers and scientists in deep-sea research [ac646923]. Recently, ISRO partnered with the Tamil Nadu government for a significant study of ocean waters up to a depth of six kilometers [ac646923]. This collaboration will contribute to a better understanding of the ocean and its resources.
Moreover, ISRO is playing a crucial role in accelerating the growth of India's space sector through private partnerships [e0cd4349]. The Indian space sector is experiencing a growth rate of 4% per year, higher than the global average of 2% [e0cd4349]. To further boost this growth, ISRO is seeking collaboration with NASA [e0cd4349]. The organization aims to increase India's share in the global space economy from 2% to 9% by 2030 [e0cd4349].
To achieve this ambitious goal, ISRO is transferring technologies to the private sector through the Indian National Space Promotion and Authorisation Centre (IN-SPACe) and NewSpace India Ltd (NSIL) [e0cd4349]. This move will encourage private participation in India's space program and free up ISRO to focus on research and development [e0cd4349]. The collaboration with start-ups and research labs, along with incentives and exemptions, will be crucial for the growth of India's space industry [e0cd4349].
ISRO's contributions have not gone unnoticed. The Karnataka government recently recognized the organization's achievements by awarding the Karnataka Rajyotsava award to ISRO chairman S Somanath [ac646923]. This recognition highlights the significant impact ISRO has made in the field of space exploration.
However, the fledgling domestic space industry in India is facing challenges in creating internal demand and market, according to ISRO chairman S. Somanath [cc612fe1]. He highlighted that the demand for space launches will not come from outside and there is currently no demand for ISRO's workhorse rocket, the Polar Satellite Launch Vehicle (PSLV) [cc612fe1]. This lack of demand is affecting revenue projections and hampering early-stage private space startups [cc612fe1]. The shift from a supply-driven model to a demand-driven model for space projects in India has created conflicts in terms of how government bodies pursue space missions [cc612fe1]. The Indian National Space Promotion and Authorization Centre (In-Space), which should be the ideal regulator, does not have an allocated budget to work with [cc612fe1]. Industry stakeholders believe that India needs strategic autonomy and budgetary autonomy to set a roadmap for the space industry and achieve its strategic goals [cc612fe1]. They suggest emulating Japan's space model, which pairs large companies with smaller ones and has industry officials on an advisory board of the prime minister to open up the sovereign purse for the space sector [cc612fe1].