Going To Moon Is Costly Affair, Needs Pvt Sector Help: ISRO chief

New Delhi: Going to the Moon is a costly affair, said ISRO chairman S Somanath, while stressing the need for private sector involvement in space exploration.

He was speaking at an interactive session with students of the Karnataka Residential Educational Institutions Society.

Somnath said that the budget allocated to ISRO -- Rs 12,000 crore -- is insufficient. Noting that ISRO cannot rely only on government support, he emphasised the need for business opportunities to sustain the space missions.

“Going to the Moon is a costly affair. And we cannot depend only on the government for funding. We must create business opportunities. If you have to sustain it, you have to create a use for it. Otherwise, after we do something, the government will tell you to close down,” he said.

“Collaboration with private players in the space sector is absolutely essential,” he added.

Further, he noted that ISRO aims to serve the country rather than to compete for supremacy among the spacefaring nations.

Citing a recent report commissioned by ISRO in collaboration with European space consultancy Novaspace, Somnath said “For every rupee that the organisation spent, the return is Rs2.50”.

The report, released by space minister Jitendra Singh on National Space Day, said the space sector has contributed $60 billion to India’s GDP between 2014 and 2024. For every dollar generated by the space sector, the Indian economy has seen a multiplier effect of $2.54.