Can The Private Sector Create 5 Unicorns In 5 Years? Scale Rocket Launches From 5 To 50 Annually, Says PM Modi On National Space Day

Prime Minister Narendra Modi on Saturday said India is likely to reach greater heights in space exploration and called on the private sector to create five Unicorns in the next five years.

Speaking virtually on National Space Day, PM Modi also encouraged companies to expand rocket launches from the present five per year to 50 annually.

The Prime Minister congratulated the nation, scientists, and youth for their achievements in the space sector, particularly over the past 11 years.

“India’s journey in space reflects our determination, innovation, and the brilliance of our scientists pushing boundaries,” Prime Minister Modi stated.

Citing the theme ‘Aryabhatta to Gaganyaan: Ancient Wisdom to Infinite Possibilities’, the Prime Minister noted that it symbolises both confidence drawn from history and resolve for the future.

Reforms and Private Sector Role

PM Modi recalled that while regulations once restricted space progress, reforms and the privatisation of the sector have proved transformative.

“The last 11 years have seen space reforms one after the other. The opening up of the space industry for the private sector also led to the build-up of 350 startups,” Prime Minister Modi asserted.

He further added, “The space industry is acting as an engine for innovation and acceleration. Soon, India will launch PSLV rocket, the first private communication satellite, and an Earth observation satellite constellation built on public, private partnerships.”

“The space sector is set to create vast opportunities for Indian youth,” PM Modi remarked.

Highlighting the opportunities for youth, PM Modi said the government remains committed to ‘next-gen reforms in space’.

“Can the private sector create 5 Unicorns in the next five years? Currently, we have five big launches every year; can we scale it to 50 rockets every year, that is one per week?” PM Modi asked.

The Prime Minister underlined progress in advanced technologies such as semi-cryogenic engines and electric propulsion, while stressing that space-tech is now part of everyday governance.

“Today, space-tech is also becoming a part of governance in India. Crop insurance schemes involve satellite-based assessments. Fishermen are receiving information and safety through satellites. Whether it’s disaster management or the use of geospatial data in the PM Gati Shakti National Master Plan. Today, India’s progress in space is making the lives of ordinary citizens easier,” he said.

“Soon, thanks to the hard work of all you scientists, India will also launch the Gaganyaan mission…and in the coming times, India will build its own space station,” the Prime Minister noted.

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