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

Prime Minister Narendra Modi engaged with the CEOs of 20 space startups, including Skyroot Aerospace, prior to National Space Day (August 23) in celebration of India's historic Chandrayaan-3 lunar landing. The Prime Minister encouraged young entrepreneurs to transform India into a global space hub by building a robust ecosystem to attract top-tier talent from around the world.

He expressed confidence that India could harness the full potential of its talent pool due to its cost-effectiveness, vast talent pool, and high-risk tolerance. One of the founders revealed that Indians working abroad have started returning to India due to the current sector boom. During the meeting, startup founders presented updates on various innovative projects, such as setting up global ground-station networks, developing satellite engines, creating space debris removal robotics, and pioneering orbital docking and refuelling abilities.

One startup shared its plans to manufacture pharmaceuticals in microgravity environments. Pawan Chandana, co-founder of Skyroot Aerospace, which recently achieved the first private Indian orbital launch, outlined ambitious expansion goals, stating that the company currently operates three factories capable of manufacturing one rocket per month.

By mid-next year, they aim to conduct one launch per month, with the long-term goal of scaling up to multiple launches daily. The company has already secured eight launch contracts, primarily from foreign clients. Startup leaders expressed gratitude for the supportive policy framework since the sector opened to private players in 2020, emphasizing the importance of consistent policy to build trust among investors.

PM Modi assured entrepreneurs of unwavering government support, vowing that any decisions made would be stable to ensure investors could rely on the government.