Macron announces over $600mn investment in space sector

Top Stories

»	India’s total exports surge 11.37 pc to $232.73 billion in April-June despite global shocks
»	India’s merchandise exports rise 15.5 pc to $40.41 billion in June
»	Markets open lower as Brent crude nears $80 amid escalating West Asia crisis
»	More than 1.7 crore taxpayers file ITRs for AY 2026-27 so far: I-T Dept
»	Sensex, Nifty end 1 pc higher as IT, financial stocks rally

IANS | 13 Jan, 2021
France will invest 500 million euros ($609.5 million) in boosting innovation in the space industry in an attempt to battle outgrowing US and Asian competition, President Emmanuel Macron has said.

During his visit to ArianeGroup aerospace company in Vernon in northern France on Tuesday, Macron said the two-year investment plan "will cover innovations related to carrier rockets, speed up our projects and allow us to go faster in global competition," Xinhua news agency reported.

He said that 30 million euros will be invested in the development of new rocket engine and hydrogen propulsion technologies, stressing that "France must remain a country of innovation and production where there is a future for space."

"This is the area that has seen growing American and Asian competition in recent years. ... That is why we need to organise ourselves, reduce undue intra-European competition, continue European investment and innovate more," he said.