Speaking at a panel discussion titled The Future of the Commercial Space Sector at the Global Investors’ Meet Invest Karnataka 2025 on Thursday, Somanath highlighted the increasing opportunities for private participation in the sector, driven by the government’s clear policy direction.
“Earlier, there was no clarity regarding private participation in the space sector. With the government now formulating a clear policy, this is the right time for investment,” Somanath said. He underscored the vast potential for startups and young entrepreneurs to capitalise on this momentum, stressing the importance of venture capital and government financial support.
Somanath identified key investment opportunities in satellite manufacturing and launch, satellite operations, infrastructure development, communication applications, data services, and data analysis. He predicted a significant growth in satellite-based services for weather forecasting, fisheries, the blue economy, and agriculture, encouraging businesses to explore these emerging markets.
With the advancement of information technology and private initiatives, Somanath pointed out that information and data are now more accessible to the public, reducing the financial burden on the government. He advised startups to leverage this freely available data to drive innovation.
Jacob Gullish, executive director of the Digital Economy Division at the US-India Business Council, also spoke at the event, acknowledging India’s leadership in sectors such as space, information technology, semiconductors, and science and technology. He emphasised India’s potential to revolutionise the global commercial space sector, supported by its vast pool of skilled and talented engineers.
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The discussion highlighted the collaborative efforts of both the government and private sector in advancing India’s commercial space industry, positioning it as a key player on the global stage.
