India has invited Russian companies to invest in innovative space ventures in the country and tap its vast market, Ambassador Vinay Kumar said on Tuesday. "The Government of India has offered lucrative schemes to create a conducive atmosphere in the space industry," Kumar said while addressing a function at the Indian Embassy here to mark the second National Space Day.

The event commemorated the deployment of the Pragyan Rover on the Moon aboard Chandrayaan-3 on August 23, 2023. Recalling decades of space cooperation between New Delhi and Moscow, he cited the launch of India's first satellite Aryabhata on a Soviet rocket in 1975, the voyage of Rakesh Sharma aboard the Soyuz T-11 spacecraft in 1984, and the ongoing collaboration on the Gaganyaan human space mission.

The event was attended by officials and experts from Russia's space organisation Roscosmos, which is closely working with ISRO. Kumar noted that while space emerged as an industry only a few decades ago, in Indian tradition it has been part of life since the Vedic period.