India’s private sector was still in a developing stage and would need some time to acquire the “acumen” to make space vehicles or have biotechnology start-ups grow large enough to invite interest from the public markets, Minister for Science, Space and Atomic Energy Dr. Jitendra Singh said at a press conference on Monday (June 23, 2025).
“We need a robust, developed private sector. There are some gaps...but that’s also because past policy has not favoured the robust development of the private sector. It is only after Prime Minister Narendra Modi came that this has started happening. The space sector opened up to the private sector only four to five years ago, and so their capacity building has started only just now. Several projects have been rolled out, but we don’t have the private sector acumen. This will take time, but there is now a shift in the policy,” said Dr. Singh.
He was responding to a question from The Hindu on why, despite the government’s multiple claims of championing private sector participation in the space sector, no private company was selected to manufacture the Small Satellite Launch Vehicle (SSLV). Last week, public sector defence company Hindustan Aeronautics Limited (HAL) bagged a Transfer of Technology (ToT) deal, valued at ₹511 crore from the Indian Space Research Organisation to build and operate Small Satellite Launch Vehicles (SSLVs).
