If India can make rocket sensors, it can also make car sensors: ISRO chief Somanath
Bengaluru, Nov 20: ISRO Chairman S Somanath on Wednesday highlighted the need to manufacture car sensors domestically instead of relying on imports.
Speaking at a session on space technology and defence during the Bengaluru Tech Summit, which also saw the launch of the Draft Karnataka Space Tech Policy, Somanath emphasised the importance of cost-effective production.
He pointed out that while India invests significantly in producing rocket sensors, the high production cost of car sensors makes domestic manufacturing less viable.
“For car sensors, viability is achievable only if production costs are low and manufacturing is scaled up,” he said.
Somanath called for greater industry collaboration to address this challenge and noted that policy interventions like those unveiled at the summit could provide a solution.
He praised the 2020 space sector reforms and the Space Policy of 2023 for creating an ecosystem conducive to private sector growth.
“There is a lot of interest in the sector. I hear from many aspiring to build the next SpaceX in India,” he added.
Highlighting progress, Somanath mentioned that five companies are currently building satellites, with many enhancing their capacity to develop subsystems for rockets and satellites. However, he identified a lack of major players and insufficient investment in upstream space capabilities as key challenges.
“To address this, we are focusing on developing downstream capabilities, which can generate demand and eventually attract upstream investments. I believe this model will work well for the nation,” he explained.
Somanath also stressed the role of technology transfer in enabling private sector participation, saying, “Many technologies developed within ISRO are now accessible to industries for further development into products, services, or software.”
The session featured other notable speakers, including B K Das, Director General of the Defence Research Development Organisation (DRDO), and Anne Neuberger, Deputy National Security Advisor of the United States.
Priyank Kharge, Karnataka’s Minister for IT, Biotechnology, Science and Technology, and Ekroop Caur, Secretary to the Government, Department of Electronics, IT, and Biotechnology, also participated.
Kharge stated that the draft policy envisions Karnataka capturing 50 per cent of the national space market and establishing itself as a global hub for space technologies.
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Binny Bansal steps down from board of PhonePe
New Delhi, Nov 22: Flipkart's co-founder Binny Bansal has stepped down from the board of PhonePe, the fintech company said on Friday.
PhonePe also announced the appointment of Manish Sabharwal as an Independent Director and Chair of its Audit Committee.
In this role, Sabharwal will be instrumental in upholding the integrity and effectiveness of PhonePe's financial reporting, internal controls, and risk management practices, he company said in a release.
"PhonePe also announced that Flipkart's co-founder, Binny Bansal has stepped down from its Board of Directors. Binny acquired PhonePe in 2016 and has been on its Board since then," the release said.
Commenting on the board rejig, Sameer Nigam, CEO and Founder of PhonePe said, "I would like to express my heartfelt gratitude to Binny Bansal for being one of PhonePe's earliest and staunchest supporters. His active engagement, strategic guidance, and personal mentorship have profoundly enriched our discussions. Binny will be missed!"
Nigam further said that Sabharwal's depth of understanding of India's macro economy, coupled with his leadership in shaping India's policies for education, employment, and employability will be invaluable as PhonePe continues to work ahead towards shared vision of a Viksit Bharat by 2047.
Sabharwal is Vice-Chairman of Teamlease Services, India's largest staffing and human capital firm.
Bansal played an instrumental role in Flipkart's acquisition of PhonePe way back in 2016 and had been on its board since then (the payments firm separated from Flipkart in 2022).
