(MENAFN- IANS) New Delhi, Aug 15 (IANS) India is soon set to become a space superpower, and the industry has grown multifold in the last five years, said experts on Friday, lauding Prime Minister Narendra Modi's Independence Day speech on the space sector.

In his address to the nation from the Red Fort, PM Modi said the nation is proud of its space sector. The Prime Minister stated that India is working towards becoming self-reliant in the space sector.

Citing several space missions, like Gaganyaan, Chandrayaan, and Mangalyaan, space scientist Dr P K Ghosh, told IANS:“I think we are very near to becoming a space superpower with all these projects coming up”.

Ghosh lauded the PM for acknowledging the space sector, which“has achieved a lot of technologies on our own, capabilities”.

One such example is the Cryogenic Engine technology. Another is the Gaganyaan mission -- India's flagship human spaceflight programme -- for which preparations are underway, he said.

Notably, the space feats have been achieved on a“frugal budget and they have produced results”.

Now“other countries want to collaborate with us”, Ghosh told IANS, while mentioning the recent NISAR mission conducted in collaboration with NASA, and other impending missions with Japan's space agency JAXA, as well as other countries.

The PM had also mentioned plans to build our own space station -- Bharatiya Antariksh Station (BAS) -- and underscore the need to become self-reliant in the space sector.

“The BAS, which will come around after 2030, would be a major step. I think each of our 1.4 billion people should be very proud of it. Currently, we have the International Space Station and the Chinese Tiangong,” Ghosh said.

“Our youth have been really motivated to join the space sector,” the space scientist said, citing the 300 space startups in the country.

Lt. Gen. AK Bhatt (retd.), Director General, Indian Space Association (ISpA) lauded the government's policy to open up the space sector to the private industry in 2020. He credited the policy behind the surge in space startups in the country.

“Our Hon'ble Prime Minister's visionary plan to open up India's space sector has been a true game-changer. Backed by progressive reforms such as the Space Policy, liberal FDI push, and strong government support, the industry has grown multi-fold in just five years,” Bhatt said.

“The surge in space startups and their achievements reflects an unprecedented wave of innovation and ambition among our youth. With this momentum, we are confident of achieving the goal of $44 billion space economy by 2033 and cementing India's position among the world's leading spacefaring nations. This is not just growth, it's a national movement inspiring every Indian to aim higher and reach for the stars,” he added.

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