India ranks third among the most attractive investment destinations for technology transactions in the world. Dr Harsh Vardhan, Union Minister of Department of Science & Technology, has reiterated that technology is a strong priority area for the government and it aims to make people science-centric. Modern India has had a strong focus on science and technology, realizing that it is a key element of economic growth. India is among the topmost countries in the world in the field of scientific research, positioned as one of the top five nations in the field of space exploration. The country has regularly undertaken space missions, including missions to the moon and the famed Polar Satellite Launch Vehicle (PSLV).
Currently, 27 satellites including 11 that facilitate the communication network to the country are operational, establishing India’s progress in the space technology domain. India is likely to take a leading role in launching satellites for the SAARC nations, generating revenue by offering its space facilities for use to other countries.