Page 11 - Space Sector News Today

ISRO chief S. Somnath emphasized the need for greater private sector involvement in the Indian space sector, urging industry professionals to invest and participate. He highlighted the success of Elon Musks SpaceX in the US and expressed the need for a similar figure in India. Somnath also mentioned the importance of manufacturing space equipment locally, particularly in the electronics domain, where challenges remain in sourcing components. He noted that private companies now have the opportuni...

This would result in a complete break from the past where government spending was the only source of funding for the country’s space sector, says ISRO Chairman S. Somanath

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"Over the last six months, the markets overall have had a good run and particularly the performance in the mid and small cap space has been spectacular. This has also led to a tremendous up move in valuation. We are seeing a lot of momentum buying in this space, which is a matter of concern. One must be cautious before entering in lump sum in the market at this juncture. We need to adopt a stock-specific approach in terms of what we buy."

The official said that there is huge scope for foreign companies to invest in India in this fast growing sector.

The Indian government is considering further liberalising foreign direct investment (FDI) norms in the space sector to attract overseas players and private companies. Currently, FDI in the space sector is allowed up to 100% in satellite establishment and operations through the government route only. After the successful mission of Chandrayaan-3, three G-20 countries have expressed interest in collaborating with India in the space sector.

ISRO scientists are eagerly waiting for the Vikram lander and the Pragyan rover of Chandrayaan-3 to wake up from their 14-day sleep during the lunar night, Union Minister Jitendra Singh said in the Lok Sabha on Thursday. Chandrayaan 3 Mission Update: Eagerly Waiting for Vikram Lander, Pragyan Rover to Wake Up from Sleep on Moon, Says Govt.

"While the Indian government has started to provide tax impetus to the space sector, it needs to take more initiatives for tax exemptions/tax holidays/accelerated depreciation for companies directly or indirectly engaged in space sector activities, so that the benefits are available to the entire value chain and there is no embedded tax cost," the Deloitte India-CII report said.

Matthew C. Weinzierl is Professor of Business Administration, Senior Associate Dean and Chair of the MBA Program at Harvard Business School. Speaking to Srijana Mitra Das, he discusses factors shaping the space sector

Aeroflex Industries, whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on India's burgeoning space program.