- India’s private space ecosystem has expanded to over 400 start-ups after reforms.
- Government launches ₹1,000 crore Venture Capital Fund and ₹500 crore Technology Adoption Fund.
- Dr Jitendra Singh calls for greater industry investment and philanthropy in R&D.
- Minister stresses collaboration to achieve the vision of Atmanirbhar Antariksh.
GG News Bureau
New Delhi, 11th June: Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, Dr Jitendra Singh, on Thursday called upon industry leaders to significantly increase investments in India’s space sector to accelerate indigenous innovation and strengthen the country’s position in the global space economy.
Addressing the 10th IN-SPACe Industry Connect, the Minister said India’s growing space ecosystem requires stronger participation from established industries through enhanced funding, manufacturing capabilities and market access.
Dr Singh described the decision to open the space sector to private participation under Prime Minister Narendra Modi’s leadership as a historic reform that unlocked India’s entrepreneurial potential and transformed the country’s space ecosystem.
Highlighting policy initiatives supporting the sector, he said the Indian Space Policy 2023 has provided regulatory clarity and strategic direction, while liberalised Foreign Direct Investment (FDI) norms have helped attract investments and improve India’s integration with global space value chains.
He said the establishment of the Indian National Space Promotion and Authorization Centre (IN-SPACe) has emerged as a major institutional reform, enabling and supervising private participation across the entire space value chain.
The Minister also outlined several financial support measures introduced by the government, including a ₹1,000 crore Venture Capital Fund and a ₹500 crore Technology Adoption Fund aimed at promoting innovation and commercialisation.
He added that seed funding, incubation support, skill development initiatives and an AICTE-approved Space Technology curriculum are helping create a future-ready workforce for the rapidly expanding sector.
Dr Singh noted that India’s private space ecosystem has grown from a handful of pioneering firms to more than 400 start-ups and hundreds of large and small enterprises. He said Indian companies are now developing launch vehicles, satellites, propulsion systems, Earth observation technologies and advanced downstream applications.
Referring to firms such as Skyroot Aerospace, Agnikul Cosmos, Pixxel, Galaxeye, Digantara and Dhruva Space, he said these enterprises reflect India’s technological capabilities and entrepreneurial strength.
The Minister also advocated greater philanthropic support for scientific research and innovation, saying investment in science should be viewed as a service to humanity and national development.
Acknowledging industry concerns regarding approvals and regulatory processes, Dr Singh assured stakeholders that the government remains committed to simplifying procedures and encouraging innovation through a more responsive governance framework.
He stressed the need for stronger collaboration among government, industry, academia, investors and state governments to realise the vision of a self-reliant space sector.
Concluding his address, Dr Jitendra Singh said India’s ambitions in the space economy cannot be achieved by government efforts alone and called upon all stakeholders to work together with confidence, commitment and ambition to establish India as a leading global space power.
