Union Minister Jitendra Singh said support for the Rs 10,000 crore funding scheme for space industry startups
The biggest testimony of the government is its work. Even in the first 100 days of Prime Minister Narendra Modi 3.0 government, we allocated Rs 10 billion to space startups,” said the Secretary of State (Independent) (Independent) Minister of Science and Technology (Independent) is the Minister of Science and Technology, the State Council, the Minister of the Prime Minister’s Committee, paragraph 5.
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Sidbi Venture Capital Limited will manage a corpus of Rs 10,000 crore, which aims to support space technology startups to scale and compete globally while addressing the challenges of venture capital.
The fund will deploy the amount within five years and deploy Rs 150 crore for fiscal year 2025-26, then allocate Rs 250 crore in the next three fiscal years, for Rs 100 crore in 2029-30.
Although India is in the late stage of the space industry, the country today is leading today, Singh said. “For the space sector, budget allocation has increased from Rs 56.15 crore to Rs 134.16 crore, an increase of 138%. This is just the contribution of the government. The pool is much larger because we have opened the space sector.” India’s Space Policy was approved in April 2023 to enhance the Indian space economy by encouraging private sector participation, focusing on R&D activities and providing access to public sector infrastructure and expertise.
