Soon, a market share target will be established for the Indian space sector

Pawan Kumar Goenka, Chairman-designate of the Indian National Space Promotion and Authorisation Centre (IN-SPACe), said Monday that he would soon set a goal for Indian private players to have a share in the global market and incorporate corporate culture.

He stated that issuing regulatory clearances to the private sector would be his top priority.

IN-SPACe regulates the private sector players in India’s space sector. Goenka was named its Chairman.

Goenka stated the following during his speech at the International Space Conference and Exhibition. It was organized by Confederation of Indian Industry. The theme was ‘Building NewSpace in India.’ Goenka stated that he would fix India’s global space market share target and work towards it in the next days.

Goenka, a former Managing director of Mahindra & Mahindra Ltd, stated that in corporate world, a strategy will be established, a market share target will be set, and the responsibility for achieving it. Similar strategies will be used in the private sector.

Goenka stated that he would fix the target and define the timeline, as well as the action plans, in the next days.

He stated that the private sector start-ups have only invested $21 million in total, while there is a large opportunity for global suppliers.

Goenka cited products such as the lithium-ion battery developed by Indian Space Research Organisation, (ISRO) and said that he would consider spreading this technology to the automotive sector.

Chairman of Indian Space Research Organisation (ISRO), K.Sivan, stated that more than 40 proposals have been received from companies in the private sector. These are currently being evaluated.