Investment in Indian Space Start-Ups Surges to $124.7 Million: Dr. Jitendra Singh

GG News Bureau
New Delhi, 15th Dec. Investment in Indian Space Start-Ups has increased to $124.7 Million, said Dr. Jitendra Singh on Thursday. The number of Space Start-Ups has risen from just 1 in 2014 to 189 in 2023, as reported by the DPIIT Start-Up India Portal.

Dr. Jitendra Singh, the Union Minister of State (Independent Charge) for Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy, and Space, made this statement in a written reply in the Rajya Sabha.

Dr. Jitendra Singh also mentioned that the Indian government has introduced the Indian Space Policy 2023, which allows Non-Governmental Entities (NGEs) to participate in all aspects of Space activities.

This has led to various developments and impacts in the Space sector, including the launch of satellites by NGEs, the establishment of private launchpads and Mission Control Centers within the ISRO campus, and the exploration of satellite-based communication solutions by private companies.

Furthermore, private sector involvement in satellite integration, testing facilities, and the manufacturing of satellite subsystems and Ground systems is increasing.

Indian private space companies are also forming collaborations and partnerships with international space organizations and companies.