According to Jitendra Singh, Union Minister of State for Science and Technology, India has witnessed investment of over Rs 10 billion in space start-ups in the last nine months of the current financial year (FY) 2024. Singh said that from just one space start-up four years ago, the country now has 190 private start-ups after opening up the sector.
Singh stated that in the space sector, an interphase called “Indian National Space Promotion and Authorisation Centre (IN-SPACe)” has been established and a public sector unit called “NewSpace India Limited (NSIL)” has also been set up to facilitate public-private partnership (PPP) mode projects. He added that the government has scrapped obsolete rules and focused on citizen-centric governance through the optimum use of technology. In the same vein, the gates of Sriharikota have been opened to all stakeholders.
Further, Singh added that India is now taking the lead in frontier areas of technology, including artificial intelligence and quantum technology.
