He made the statement while speaking at the seminar on 'Indian Space Programme: Trends & Opportunities for industry' in New Delhi.
He also talked about the rapidly changing space business and invited private players to be part of it.
The fact that with increasing volumes that are on offer by ISRO and other space agencies, it is an ideal opportunity for the private players to be part of the global supply chain, said Kumar at the two-day seminar, which began today.
"ISRO is the true flag bearer of the Make In India statement and almost 80 percent of the work related to launch vehicles is being done by the industry, both in public and private sector, which allows ISRO to focus on the core areas of vehicle engineering, vehicle integration, mission systems and quality assurance," said advisor, FICCI Space Division, Lt. Col Ratan Shrivastava (retd).
FICCI Secretary General Dr. Sanjaya Baru mentioned that the seminar was a first of a kind initiative which not only brings the industry and ISRO closer, but builds the competitive edge of Indian private sector.
The event which saw the launch of FICCI Space Compendium, showcases products and services available in the Space and Satellite industry in India for greater cooperation in B2B and B2G space.
The launch of the event was attended by key players from ISRO, the Indian space industry, DIPP, Ministry of External Affairs, Department of Space and international agencies from Japan, Russia, Singapore, USA, Germany, France and Thailand. (ANI)