‘Draw global talent pool’: PM Modi meets space startup CEOs, promises unwavering support

Prime Minister Narendra Modi convened with the heads of 20 space startups, including Skyroot Aerospace, in the lead-up to National Space Day on August 23, commemorating India's successful Chandrayaan-3 lunar landing. He urged these young entrepreneurs to transform India into a global space hub, emphasizing the creation of a robust ecosystem capable of attracting top-tier talent worldwide.

Modi asserted, "We can draw the entire talent pool because of you, and that will become our strength," highlighting India's competitive advantage in cost-efficiency, a deep talent pool, and a high risk tolerance. One startup founder noted that Indians working abroad are returning to India due to the sector's current boom.

During the meeting, startup leaders presented advancements on various pioneering projects, such as constructing global ground-station networks, developing satellite engines, creating space-debris-removal robotics, and pioneering orbital docking and refueling capabilities. Skyroot Aerospace, a private Indian company that recently achieved its first orbital launch, shared its ambitious growth plans.

According to Pawan Chandana, co-founder of Skyroot Aerospace, the company presently operates three factories capable of manufacturing one rocket per month. By mid-next year, they aim to execute one launch per month, with the long-term goal of scaling to multiple launches a day. The company has already secured eight launch contracts, predominantly from international clients.

The startup leaders commended the government's supportive policy framework since the sector opened to private enterprises in 2020. They underscored the importance of policy continuity, with Modi assuring entrepreneurs of unwavering support. "You have shown courage in a new space, and importantly, you have trusted the government," Modi stated. He emphasized that, when opening the sector to private players, India should ensure policy consistency to instill confidence in investors, so no one would leave their hands.