Delhi– India’s largest private sector defense manufacturer, Larsen & Toubro Ltd, is looking to expand its aerospace division to strengthen its presence in the country’s fast-growing private space sector, a top executive said on Thursday.
The move follows recent efforts by the government to open its space industry to private companies. Which is traditionally led by the Indian Space Research Organization (ISRO). The success of the Chandrayaan-3 moon landing and the Aditya-L1 solar mission has created new opportunities for companies with advanced engineering capabilities.
AT Ramchandani, senior vice president and head, Precision Systems and Engineering, L&T, said we are clearly seeing a growing economy there. It may be difficult to predict how quickly it will grow and what its contours will be, but what we can say with certainty is that we will leverage our 50-year relationship with ISRO to build launch vehicles.
Details of L&T’s expansion plans are yet to be made public. Since private companies can now design, build and operate launch services, companies like L&T are well positioned to benefit from the growing demand for commercial satellite launches.
Additionally, India expects its commercial space industry to be worth $44 billion within the decade and is encouraging private companies to invest in this sector. L&T has long been involved in manufacturing key components for Indian missiles, missions to Mars and Moon, satellites and artillery.
