Page 21 - Space Sector News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 Musk's 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 opportunity to build and launch satellites independently.

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.