More good news on ISRO's privatization plans - there will even be an industrial "space park" set up adjacent to the Sriharikota launch complex:
Space technology is a growing sector with wider profit margins, and unlike IT there are relatively fewer competitors due to the high barriers to entry. Roping in Indian corporates will help to take India's space capabilities forward, helping to bring down the barriers to Indian access to space. Likewise, if the experience of spinning off PSLV to the private sector proves to be a good one, and once ISRO has proven its more powerful GSLV-Mk3 launch vehicle, then hopefully the experience could be repeated with that newer rocket. This will allow ISRO to focus more closely on developing its Reusable Launch Vehicle, which will achieve much greater improvements on cost-per-kg to orbit.