Kochi: Indian Space Research Organization (ISRO) Chairman and Secretary, Department of Space, Government of India, S Somanath unveiled the carbon reduction initiative of SFO Technologies, the flagship company of the NeST Group on Saturday.
Besides planting a sapling at the first private SEZ in India, NeST HiTek Park to mark the occasion, he also unveiled a replica of Chandrayaan at the campus highlighting the cooperation of SFO Technologies and ISRO.
The Carbon Reduction initiative of SFO Technologies and the NeST Group follows the United Nations’ objective of achieving a 50 percent reduction by 2035 and zero emissions by 2040.
After unveiling the Zero Emission initiative, Mr. Somanath spoke in detail about the developments in the Indian aerospace and space industry sectors and answered questions from NeST engineers and the management team.
The Indian space sector is poised to become a USD 9-10 billion business in the next 5-10 years from the current levels of USD 2 billion, he said. Stressing the importance of private sector companies in this endeavor, Mr. Somanath said 400 enterprises in the country have benefited from the technologies developed by ISRO for its various missions and 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.
