ISRO Chairman S Somanath has recently emphasized the urgent need for major Indian industries to invest in the space sector, particularly in upstream activities such as the manufacturing of rockets and related systems. Speaking at the Indian Space Conclave on November 5, 2024, he highlighted that while India has made substantial progress in downstream applications—like satellite technology and services—the country lags in upstream capabilities, which are crucial for establishing a robust space economy.

S Somanath pointed out that the upstream sector, which includes the development of launch vehicles and space hardware, requires significant investment and carries higher risks. He noted that despite ongoing discussions with large industrial houses, there has been a lack of substantial financial commitment from them to develop these critical capabilities.

He stressed the importance of not just having service providers but building leading space companies that can design, manufacture, and launch competitive products globally. This shift is essential for India to increase its share of the global space economy from approximately 2% to 10% by 2047.

Somanath encouraged collaboration among industries to share risks associated with high-investment projects. He acknowledged that while there are numerous start-ups and smaller companies in the space domain, their ability to scale and compete with established players like SpaceX remains uncertain without the backing of larger industrial firms.

The ISRO chief outlined ambitious goals for India's space program, including sending an Indian astronaut to the International Space Station and establishing a domestic space station by 2035. He indicated that achieving these objectives would require not only technological advancements but also a vibrant ecosystem supported by private sector investments.

Somanath's call to action reflects a broader vision for India's role in the global space arena. By urging big industries to take the plunge into the space sector, he aims to foster a more competitive environment that can lead to significant advancements in technology and capabilities. The success of this initiative will depend on how well these industries respond to the challenges and opportunities presented by India's growing ambitions in space exploration.