The Indian Space Research Organisation (ISRO) Chairman, S Somanath, has highlighted the tremendous opportunity that the Indian space industry offers to the private sector in the country, presenting a new area for growth and development.

During his address after unveiling the carbon reduction initiative of SFO Technologies, the flagship company of the NeST Group, Somanath stated that the union government envisions the space sector in India to grow from its current level of 2 billion dollars to a 9 to 10 billion dollar industry in the next 5-10 years.

Somanath revealed that 400 private sector companies have benefited from the technology developed by ISRO for its various missions. Companies like SFO Technologies are well-positioned to take further advantage of the new policy initiatives in the space sector by the Government of India. “The Indian space industry is offering a tremendous opportunity for the private sector in the country as a new area of growth and development,” the ISRO chief added.

To mark the occasion, Somanath planted a sapling at the NeST Hitek Park and unveiled a replica of Chandrayaan at the campus, highlighting the cooperation between SFO Technologies and ISRO. He also interacted with the NeST engineers and management team.

The Carbon Reduction initiative of the NeST Group aligns with the United Nations’ objective of achieving a 50 percent reduction by 2035 and zero emissions by 2040.

SFO Technologies has a close association with ISRO for many years, collaborating on multiple programs such as the RF sub-systems for Chandrayaan and Aditya Missions, manufacturing of Antenna Systems, and Cryogenic Engine Control Systems for launch vehicles.

N Jehangir, the NeST Group Chairman, revealed that discussions are ongoing with ISRO for various projects, including the ambitious ‘Gaganyaan’ mission, aimed at carrying human beings to space for the first time.

Althaf Jehangir, CEO and Executive Director of SFO Technologies, Hardware and Manufacturing, stated that SFO Technologies and the NeST Group are committed to protecting the environment and reducing carbon emissions. He also mentioned that they have signed agreements with multiple partners to create a model of being a socially responsible organization by minimizing carbon pollution.

Nazneen Jehangir, CEO and Executive Director of Nest Digital, also addressed the gathering during the event.

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