India’s space sector has become magnet for global investors: PM Modi

As India observes National Space Day on Sunday, Prime Minister Narendra Modi extended greetings and said the country’s growing presence in the global space sector, particularly the rise of private space companies, has made India a “magnet” for global investors.

He also praised the country’s youth for developing new technologies and contributing to India’s growing space capabilities.

Sharing a video of his speeches, PM Modi said, “I said in Ayodhya that this is the beginning of a new cycle of change. In this new cycle, India is steadily expanding its space presence in the global order, and this is clearly reflected in our space programme.”

“Together, we have resolved to make India a developed nation by 2047, and the space sector plays a vital role in achieving this goal,” he said.

Highlighting the growth of India’s private space sector, the Prime Minister said, “India’s private space talent is making its own identity in the world. Today, India’s space sector has become a magnet for global investors.”

Praising the country’s youth, Modi said, “Today, these Gen Z engineers, designers, coders and scientists are building new technologies. Be it propulsion systems, composite materials, rocket stages or satellite platforms, India’s youth is working in areas that were not even imagined some time ago.”

He also said that ISRO is inspiring the next generation of scientists.

“Seeing the success of ISRO, many children think that when they grow up, they too will become scientists,” PM Modi said.

National Space Day is observed in India on August 23 to commemorate the historic soft landing of the Chandrayaan-3 Vikram lander on the Moon in 2023. India became the first country to land near the Moon’s south polar region, marking a major milestone in the country’s space programme.

As India observes National Space Day 2026, ISRO Chairman and Secretary of the Department of Space Dr V Narayanan has called for greater innovation, collaboration and ambition as the country works towards becoming a global leader in space.

The 2026 celebrations are being held under the theme, “Towards Viksit Bharat: Innovating, Collaborating and Aspiring to Global Space Leadership.”

The theme reflects India’s focus on strengthening its scientific and technological capabilities while promoting innovation, partnerships and greater participation in the global space ecosystem.

In his National Space Day 2026 message, Dr V Narayanan emphasised the need to continue pushing the boundaries of science and technology while building partnerships to strengthen India’s space ecosystem.