India’s Space sector emerges as global investment magnet: PM Modi

India’s space sector has become a “magnet” for global investors, Prime Minister Narendra Modi said on Sunday as the country observed the third National Space Day, highlighting the rapid growth of private space companies and the role of young Indians in driving innovation.
Interacting with CEOs and founders of 20 space startups at Seva Teerth, Modi called for an ecosystem that can attract space professionals from across the world and encourage Indian talent working overseas to return and contribute to the country’s space ambitions.According to agency reports,the startups represented a wide range of areas, including launch vehicles, satellites, earth observation, in-space mobility, satellite servicing, robotics, ground stations and space-based pharmaceuticals. The participating companies included Skyroot Aerospace, Agnikul Cosmos, Pixxel, Dhruva Space, GalaxEye, PierSight, Bellatrix Aerospace, Digantara, SatSure and others.
The Prime Minister said India’s private space talent was increasingly gaining global recognition and noted the growing interest among professionals in the US and Europe in returning to India. He said India should create an environment where people from around the world see the country as an attractive destination to build careers in the space sector.

Met India’s brightest space StartUps.

As always, came away impressed by their energy and ambition.

You would love their insights and optimism.

Do tell me...what excites you most about India’s space journey? #NationalSpaceDay pic.twitter.com/d1pDC0UZ6p

— Narendra Modi (@narendramodi) August 23, 2026

Modi also highlighted the growing global ambitions of Indian space startups, pointing to the country’s skilled workforce, competitive costs and willingness to take risks as advantages that could help domestic companies expand internationally.
Sharing highlights from his speeches, Modi said India was steadily expanding its presence in the global space order and that the sector would play a vital role in the country’s goal of becoming a developed nation by 2047.He also praised Gen Z engineers, designers, coders and scientists for developing technologies in areas such as propulsion systems, composite materials, rocket stages and satellite platforms. He said ISRO’s achievements were inspiring a new generation of children to pursue careers in science.
National Space Day is observed on August 23 to commemorate the 2023 soft landing of Chandrayaan-3’s Vikram lander on the Moon. India became the first country to land near the lunar south polar region, marking a major milestone in its space programme.The 2026 celebrations are being held under the theme, “Towards Viksit Bharat: Innovating, Collaborating and Aspiring to Global Space Leadership.” ISRO Chairman and Department of Space Secretary V Narayanan has stressed the need for greater innovation, collaboration and ambition to strengthen India’s space ecosystem and help the country emerge as a global space leader.