ISRO lures industry into space with technology promise
The India’s space organization namely, ‘Indian Space Research Organisation’ abbreviated as ISRO desires much more private companies to create the space & satellite components for the Govt. run organization by assisting them with the technology transfer & the necessary infrastructure in a practice to help incubate an industry of space in the nation. Tapan Mishra who is the head & director of the Space Applications Centre at ISRO has said that the industry can expect near about 20% of the annual budget in the business opportunity.
ISRO has been given about Rs.6000 crores in this financial year by the Indian government for doing this but it is expected to go up to Rs.8900 crores in the upcoming budget for the next year. Tapan Mishra at ‘Make in India’ week on Wednesday has said that it is not a huge number but they are training the people & sharing technology with them. We will also be able to monetise the reputation of working with ISRO.
The scientific secretary at ISRO, Mr. YVN Krishna Murthy has said that the apps of the technology that the private industry would learn from them is pretty mind boggling, by also pointing towards a better business opportunity worldwide. The space technology, according to them with them, could be used in a commercial aerospace, defence, transportation, agriculture, metallurgy, space design & so many other fields.
The global space industry is as huge as $300 billion according to the estimates of the industry. Mr. Dhiraj Mathur who is an executive director at Global Consultancy PricewaterhouseCoopers said that it is a big thing to be associated with a space programme because we get to share our work with the best in the world.
Volumes would not be huge & budgets will every time be constrained but as our capability improves to meet the stringent standards of the space programme, we are put on launch pad to do business with the civilian aerospace & defence companies in India & outside India.
The private participation is quite low in ISRO currently because the Indian companies have not been equipped much in terms of the technology and the talent for creating space components. The ISRO expects the private companies to create the satellite components for them along with the space radars, the rocket engines, batteries, electrical components of the space, the optical camera components and much more in the coming years.
The ISRO’s commercial arm ‘Antrix Corp’ offers the space products & technical consultancy service to the Indian and the international clients throughout the world. It is based with the launching of satellites for the international companies at a competitive price.