Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, Dr. Jitendra Singh, on Thursday called upon industry leaders to significantly scale up investments in India’s space sector, saying stronger participation from established industries is essential to accelerate the development of globally competitive indigenous technologies and reduce dependence on external sources.
Addressing the 10th IN-SPACe Industry Connect, the Minister said India’s start-up ecosystem has demonstrated remarkable innovation and technological capability, but achieving leadership in the global space economy would require enhanced funding, manufacturing strength and market access from industry stakeholders.
Singh said the decision to open the space sector to private participation under the leadership of Prime Minister Narendra Modi marked a historic shift in India’s approach to strategic sectors. He described the reforms as a transformative step that unlocked the country’s entrepreneurial potential and reshaped the space ecosystem within a short period.
Highlighting key policy initiatives, the Minister said the reforms were followed by the Indian Space Policy 2023, which provided strategic direction and regulatory clarity for stakeholders. He noted that the liberalisation of the Foreign Direct Investment (FDI) regime has helped attract investments and strengthen India’s integration into global value chains. He also described the establishment of Indian National Space Promotion and Authorization Centre (IN-SPACe) as a major institutional reform that has enabled and supervised non-governmental participation across the space value chain.
The Minister said the government has introduced a Rs 1,000 crore Venture Capital Fund and a Rs 500 crore Technology Adoption Fund to support innovation and commercialisation in the sector. He added that seed funding initiatives, incubation support, skill development programmes and an AICTE-approved Space Technology curriculum are helping build a future-ready talent pool for India’s expanding space economy.
Referring to the rapid growth of the sector, Dr. Singh said India’s private space ecosystem has expanded from a handful of pioneering enterprises to more than 400 start-ups and several hundred large and small companies. He noted that Indian firms are now developing launch vehicles, satellites, propulsion systems, Earth observation applications, space situational awareness capabilities and a range of downstream solutions.
He cited companies such as Skyroot Aerospace, Agnikul Cosmos, Pixxel, GalaxEye, Digantara and Dhruva Space as examples of India’s growing entrepreneurial and technological capabilities in the sector.
Calling for greater philanthropic support for scientific research, Dr. Singh said investments in research and innovation should be viewed as an important service to society, alongside traditional charitable contributions.
He also urged industry stakeholders to openly communicate the challenges they face in the evolving space ecosystem and assured them of the government’s support. Acknowledging concerns regarding faster approvals, streamlined procedures and the need for an effective single-window mechanism, the Minister said governance should aim to incentivise innovation rather than create unintended barriers.
Emphasising the importance of collaboration, Dr. Singh said the vision of “Atmanirbhar Antariksh” can only be realised through stronger partnerships among government, industry, academia, investors and state governments. He observed that the agility of start-ups must be complemented by the scale, financial strength and execution capabilities of established industries.
The Minister said India possesses abundant talent and entrepreneurial energy, and that the policy reforms introduced in recent years have created an enabling ecosystem for innovation and enterprise. Concluding his address, Dr. Singh said India’s ambitions in the space sector cannot be achieved through government efforts alone and called upon all stakeholders to work together with ambition, confidence and commitment to establish the country as a leading force in the global space economy.
