India to have its own SpaceX in the next 2 years- says Principal Scientific Advisor

Government science

The government will soon publish a new space strategy aimed at increasing private engagement, according to Principal Scientific Advisor Ajay Kumar Sood, which might lead to the creation of own “SpaceX-like companies” for India. The government’s chief scientific advisor stated in an interview that consultations had taken place and that the final text of the space policy will be sent to the Empowered Technology Group for additional review soon.

“A space policy is being developed. We haven’t used it much, but the new low-earth-orbit (LEO) satellite technology… it’s a low-cost game.” In LEO, there are a large number of satellites. That will transform the space sector,” Sood, who took office on April 25, said.

He stated that the government will push the private sector to manufacture satellites for a variety of uses, including health care, agriculture, urban development, and property tax calculation.

“We have not tapped the full potential of this sector. In 2022, the space sector is witnessing what the information technology sector experienced in the 1990s. We will have our own SpaceX in the next two years,” Sood explained.

SpaceX is a private space transportation firm formed by Elon Musk in 2002 that designs, builds, and launches sophisticated rockets and spacecraft. He stated that there were several prospects for the employment of space technology for the benefit of humanity, but that the Indian Space Research Organisation (ISRO) has limits.

“New launch vehicles are being developed, as well as new fuels for spacecraft. This will bring the disconnected together. That is the concept – connecting the disconnected – that will occur when the space sector is opened up “Sood said.

According to him, specialised satellites for diverse sectors such as agriculture, education, crisis management, and e-commerce applications might emerge when the space industry opens up.

“Edusat was launched in 2004. The second version has not been launched yet. So, why not let the private sector come into the business? That will happen. For the agriculture sector, we can have satellites that can give information about climate, and soil conditions. It can be called. E-Krishi, The thought process is already on. What is lacking are the satellites,” Sood explained.

Industry estimates put the global space economy at $423 billion, with India accounting for two to three percent of it.

According to Morgan Stanley, the global space sector will grow to one trillion dollars by 2040.