Bengaluru, July 20: Stressing on the importance of ingeniously developed technology, Former ISRO Chairman Dr K Radhakrishnan on Friday said India has a vibrant space industry which caters to both domestic and global customers.

Dr Radhakrishnan spoke at length about India's significant progress in space exploration during a panel at IIMbue Leadership Conclave in Bengaluru. Neha Satak, CEO of Astrome Technologies, was also part of the panel and the discussion was moderated by veteran science journalist Pallava Bagla.

Dr Radhakrishnan, who was at helm of affairs in ISRO when India's Mars Mission Mangalyan was launched, said that India stands sixth in the world in space technology. He said that India's progress in space endeavours did not slow down even there was a slowdown in global economy.

He said that ISRO's focus has always been in developing technologies in house, adding, "You will always be a follower if you you depend of technology from abroad."

He said innovation is the key to be at the forefront of space technology, adding that a robust space industry forms a basis for successful launches of satellites. He also dwelled on ISRO's recent move to outsource satellite manufacturing to private players. "There needs to be a mechanism through which private players can enter space industry," he added.

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Pallava Bagla asked if India capable of putting a human being in space, to which Dr Radhakrishnan said, "That's the next logical step."

"In 6-7 years from now, we will have human beings in orbit launched from India," he said.

Neha Satak, during the panel discussion, said that demand for internet in rural India is growing.

Satak, co-founder and CEO of Bangalore-based Astrome Technologies, is working towards sending a bunch of satellites into space so that internet can be beamed down from low orbit satellites into rural areas at affordable cost.

"We are working on technologies to provide internet in villages in a cost effective way...Terrestrial technologies which currently provides internet in villages has a cost constraint to it," she added.

IIMBue, the annual leadership conclave hosted by IIM-B Alumni Association, is being held today. This is the third edition of the annual event and the theme for this year is 'Sensing The Future'.