New Delhi: Union Minister Dr. Jitendra Singh called on industry leaders to increase investments in the India space sector and support indigenous technologies, manufacturing and innovation.
Addressing the 10th IN-SPACe Industry Connect, the minister said India needs stronger participation from established industries to become a major force in the global space economy.
Moreover, he said start-ups have shown strong technological capabilities. However, larger industries must contribute greater funding, manufacturing strength and market access.
India space sector witnesses rapid private expansion
Dr. Jitendra Singh said space reforms and the Indian Space Policy 2023 created a favourable environment for private participation.
He stated that the government introduced a ₹1,000 crore Venture Capital Fund and a ₹500 crore Technology Adoption Fund to promote innovation and commercialisation.
Additionally, seed funding, incubation support, skill development programmes and a space technology curriculum are strengthening the talent ecosystem.
The minister said India’s private space ecosystem now includes more than 400 start-ups and hundreds of companies.
These enterprises are developing launch vehicles, satellites, propulsion systems, Earth observation technologies and other space solutions.
Jitendra Singh highlighted companies such as Skyroot Aerospace, Agnikul Cosmos, Pixxel, Galaxeye, Digantara and Dhruva Space as examples of Indian innovation.
Furthermore, he urged industries to support scientific research through greater philanthropic investments.
The minister assured stakeholders that the government would address challenges related to approvals and procedures through continuous dialogue.
He also stressed stronger collaboration among industry, government, academia, investors and states to achieve the vision of Atmanirbhar Antariksh.
Jitendra Singh said India possesses significant talent and entrepreneurial energy. Therefore, all stakeholders must work together to make India a global space leader.
