India's Space Industry Picks Up Pace: 60-Plus LVM-3 Rockets to Be Constructed with Private Industry's Boost

In a big shot in the arm for India's private space sector, the government has given its nod for the manufacture of more than 60 LVM-3 rockets with the help of the private sector. The project is likely to provide about Rs 25,000 crore worth of business to private companies in the next 12-14 years. The development was announced by Pawan Goenka, Chairman of Indian National Space Promotion and Authorisation Centre (INSPACe). This step is in line with India's ambitious agenda to expand its space economy, which is set to reach $44 billion by 2033. The manufacture of these rockets will aid in the launch of different satellites, including a group of 52 surveillance satellites for defense.

 

Source: Business Standard, The Economic Times, Devdiscourse