New Delhi, Aug 2
Indian space startups have received $430 million in investment till March this year, said Union Minister of State for Science and Technology, Jitendra Singh, in the Parliament, citing the success of opening up the space industry to the private sector.
In a written reply in Rajya Sabha, Singh shared how private sector industries are participating in the space sector.
“The government has implemented the space sector reforms and the private sector is being encouraged to take up not only commercial but also scientific development activities,” Singh said.
“Till March 2025, cumulatively, a total of $430 million investment has happened in Indian Space startups,” he added.
To promote the participation of private entities in the space sector, the government had in June 2020 established the Indian National Space Promotion and Authorisation Centre (IN-SPACe) as an autonomous agency under the Department of Space (DoS) in India.