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Space industry a priority for Russia: Putin

Development of the national rocket and space industry is a priority for Russia, Prime Minister Vladimir Putin has said.

Updated: May 01, 2011, 14:45 PM IST

Moscow: Development of the national rocket and space industry is a priority for Russia, Prime Minister Vladimir Putin has said.
"From the perspective of the country`s defensive capacity, the rocket and space industry... is an absolute priority along with the nuclear industry and its military branch," Putin told scientists from the Research Institute of Physical Measurements.

About 153 billion rubles ($5.6 billion) will be allocated to the national rocket and space industry in 2011 - which 30 percent higher than in 2010, Putin said.

The industry has shown an 18 percent growth despite the global financial crisis, he said.

"We have the absolute competitive advantage in rocket engineering, many of our partners lag behind us, but in several spheres we have to catch up."

On the whole, the Russian defence industry is globally competitive, Putin added.

IANS