‘Serving limited domain’: Former ISRO chief Somanath says application of space tech is very small

Former Indian Space Research Organisation (ISRO) chief S Somanath said that there is a huge potential in the space sector, and that the application penetration of space technology is rather small currently. He said that scaling up commercial applications of space technology would drive economic growth. 

Speaking at a conference organised by the Confederation of Indian Industry (CII), Somanath said that India has made remarkable strides in space technology but its application has largely been limited to government programmes. He said only 10 per cent of the potential market has been explored. 

“The application of space technology has been focused on societal and governmental programs. Now, bringing it into the commercial domain and monetising it is key…India is a huge country with 145 crore people, but the application penetration is very small. We are serving only a limited domain,” Somnath said.

Space technology could be converted into viable business opportunities, for instance in fisheries where satellite data could revolutionise traditional practices. 

“We have been able to predict the presence of fish schools using ocean satellites, but this information is mostly disseminated through government channels. Has it made an economic impact? Not really. We need to create a business case where fishermen can buy this data to improve their catch,” he said, also emphasising on the untapped potential of satellite data in sectors like logistics, traffic management and railway monitoring. 

“Why not use space technology to monitor railway tracks instead of relying on physical inspections? Similarly, satellite data can optimise logistics and reduce costs,” he said, calling for case studies in areas like blue economy, agriculture and disaster management. 

Chairman IN-SPACe Dr Pawan Goenka said the space economy is already worth $440 billion globally, and will reach $1 trillion by 2040, but India’s share is just $8 billion. India aims to grow this to $44 billion by 2030. 

He also highlighted the Indian government's initiatives to enhance the space sector, revealing incentives worth Rs 4,000 crore and projects valued at Rs 25,000 crore for space-based surveillance by the Ministry of Defence. Goenka announced the approval of a Rs 1,000 crore venture capital fund aimed at supporting space startups. 

Somanath and Goenka called for greater collaboration between the government, private sector, and startups to unlock the full potential of space technology. 

“If you come to us with a problem, we will work with ISRO and private players to create pilot solutions. This is just the beginning of a transformative journey for India’s space economy,” Goenka said.