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India’s space odyssey: space start-ups soar from 1 to 189 with a $124.7 million boost

EconomyIndia's space odyssey: space start-ups soar from 1 to 189 with a $124.7 million boost

Union Minister Dr. Jitendra Singh reports a substantial surge in the number of Space Start-Ups, rising from a mere 1 in 2014 to 189 in 2023. Additionally, he highlights a substantial increase in investment in Indian Space Start-Ups, reaching $124.7 million.

The space start-up landscape in India has undergone a remarkable transformation, growing from a solitary entity in 2014 to 189 in 2023, as revealed by Union Minister Dr. Jitendra Singh. In a written response presented in the Rajya Sabha on Thursday, Singh said that investment in Indian start-ups has touched $124.7 million.

Emphasizing the government’s role in the space sector, Singh pointed to the introduction of the Indian Space Policy 2023. The policy aims to facilitate the extensive participation of non-governmental entities (NGEs) in all space activities, driven by sector incentives and transformative reforms.

Crafted as a comprehensive, dynamic framework, the space policy embodies the government’s vision for space reform. The reforms, set in motion in 2020, have opened doors for the private sector, ensuring a fair and level playing field.

Since then, several non-governmental entities (NGEs) have independently launched satellites. Various space industries and start-ups are actively developing their own satellites and constellations for applications such as agriculture, disaster management, and environmental monitoring. Noteworthy achievements include one NGE introducing a sub-orbital launch vehicle, establishing a private launchpad, and setting up a Mission Control Center at ISRO’s campus.

Private enterprises are making significant strides in satellite-based communication solutions, with an increasing focus on satellite integration, testing facilities, and the local manufacturing of subsystems and ground systems. Indian private space firms are also forging collaborations and partnerships with international space organizations and companies, marking a substantial expansion of their global footprint.

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