Isro’s aim: 10% share in global space economy | Bengaluru News

New Isro chief S Somanath (Photo: Union minister Jitendra Singh/Twitter)

BENGALURU: Isro chairman S Somanath said in Bengaluru on Monday that the agency has its eyes set on increasing India’s share in the global space economy from about 2% to a two-digit number.
Speaking at the 75th Independence Day celebrations at Isro headquarters, he said: “…What lies ahead is more important than what we’ve accomplished.” Expressing various institutes’ desired growth path for the next 25 years, he said the department of space’s vision was: “To see our share of space economy (grow) from less than 2% of the global economy to a higher value of typically 10%.
” For this to be achieved in the next few years, he believed drastic structural changes are needed in the way the department works.Somnath saw tremendous growth in business opportunities in the space sector and said there is a need to work towards it by enabling people with the right aptitude and capability.
“While Isro and DoS continue to make great strides in technology development…we will look at the private ecosystem for making the business transactions in space sector grow,” he said.