New Delhi, April 26 (IANS). Union Minister of State (Independent Charge) Dr Jitendra Singh on Sunday said while reviewing plans to set up space laboratories in universities and colleges across the country, that private sector space investment has exceeded US$ 600 million in five years.
Under these plans, seven such laboratories will be set up in the first phase to provide students with practical experience in satellite systems, rocketry and mission design.
The review followed a detailed briefing by Dr. Pawan Goenka, President, IN-SPACE, who presented an overview of the progress made in India’s space reforms and the increasing participation of private players in the value chain.
India’s private space ecosystem has grown rapidly, and the number of startups is expected to grow from single digits in 2019 to over 400 by early 2026. These startups are now active in launch vehicle, satellite and payload manufacturing, ground infrastructure, data services and emerging in-orbit sectors.
To maintain this momentum, several targeted initiatives have been launched. A Rs 1,000 crore Venture Capital Fund is being launched in collaboration with SIDBI to support startups in the growth stage, while a Rs 500 crore Technology Adoption Fund is being set up to help convert early-stage innovations into commercially viable products. Under the Seed Fund Scheme, grants up to Rs 1 crore, guidance and ecosystem support are being provided to startups in the idea and prototype stage.
According to the Department of Space of the Central Government, efforts are also underway to create a skilled workforce, under which 17 special training programs have been completed and around 900 participants have been certified in areas such as satellite manufacturing, launch vehicle systems and space cyber security.
India’s global involvement in the space sector continues to grow from strength to strength, and now extends to more than 45 countries. Recent collaborations include agreements with Singapore and UAE, participation of Indian companies in international space forums and initiatives to connect domestic startups to global markets.
–IANS
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