ISPA will help in increasing the participation of various companies in the field of space technology in the country, thus rapidly meeting the needs of the future space technology sector of the country.
Prime Minister Narendra Modi founded the Indian Space Association (ISPA) today. This organization will help in meeting the growing needs of the country in the field of space technology. The organization will be headed by the Indian Space Research Organization (ISRO). With the increasing use of internet and the need for artificial satellites in the country, there is a need to increase the participation of private companies in the field of space technology. Istro will work to promote private companies in the country under the Space Technology Regulations.
“India’s space technology sector has got a new lease of life. Till now space technology was a government monopoly, which was controlled by the government. India has made great strides in this area in the last few years. In any case, The government will not have a monopoly in this sector. Now there is a need to give place to the quality of Indians, then why should the sector be private,” he said while urging more and more private companies in the country to turn to the space technology sector.
Indian Space Association has founding members like Bharti Airtel, Larsen & Toubro, Nelco, OneWeb, MapIndia, Walchandnagar Industries. The use of artificial satellites in various fields in the country is increasing day by day. The use of satellites, especially for the Internet, is likely to increase in the future, although it is much lower than in the rest of the world. Also, ISRO is now running various missions to the Moon and Mars. This would require a huge amount of cooperation from various companies in the country. Through this organization the participation of private companies in the field of space technology will be increased. It is expected that domestic companies will be able to meet the needs of the country’s space technology sector in future without being dependent on foreign countries.
The current turnover of space technology in the world is 3,360 billion, of which ISRO’s share is only 2%. However, given the potential of ISRO, the stock could easily reach 9 per cent by 2030, which will also benefit the Indian economy. And hence Indian Space Association has been established to achieve this goal quickly and easily.