India, Aug. 23 -- Prime Minister Narendra Modi exhorted the Indian spacetech ecosystem to mint five unicorns in the next five years.

Speaking on the occasion of National Space Day, PM Modi urged the sector to scale up rocket launches to 50 per year - a frequency of nearly one launch per week - from five to six major launches annually currently.

"Today, on Space Day, I would like to say to our space startups: can we aim to create five unicorns in the space sector in the next five years? At present, we witness about five to six major launches annually from Indian soil. I would like the private sector to take the lead so that in the next five years we reach a stage where we launch fifty rockets every year. One every week!" said PM Modi.

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