Pvt investment in space sector crosses $618 million, 17 startups given nod for space activities: Minister Jitendra Singh to RS | India News
NEW DELHI: India’s space sector has witnessed unprecedented momentum following the landmark reforms, with private investment crossing $618.5 million, 105 authorisations issued to private entities, and a robust regulatory framework being strengthened to safeguard strategic and national security interests while promoting greater private participation, Space, science and technology minister Jitendra Singh informed the Rajya Sabha on Thursday.Replying to an unstarred question in the Rajya Sabha, Singh said cumulative private funding has expanded nearly six-fold in the last few years, rising from $100.5 million in 2021-22 to $348.5 million in 2023-24, before reaching $618.5 million by March 31, 2026, reflecting the growing confidence of domestic and global investors in India’s rapidly evolving space ecosystem.Singh informed RS that 17 space startups have so far been authorised by IN-SPACe to undertake space activities, reflecting the emergence of a vibrant startup ecosystem that is increasingly contributing to India’s space ambitions. Active space startups have increased from just one in 2014 to over 400 today, while private investment has crossed $600 million. Indian private companies have successfully demonstrated launch and orbital capabilities, placed more than 30 satellites into orbit, and flown nearly 45 payloads through platforms such as the PSLV Orbital Experimental Module (POEM), signalling the growing technological depth and commercial maturity of the country’s private space sector.The earth observation public-private partnership has brought together leading Indian companies to develop the country’s first privately owned Earth observation satellite constellation with a private investment commitment of around Rs 1,200 crore, demonstrating the growing confidence of industry in India’s space reforms.Highlighting the govt’s unwavering commitment to ensuring that rapid commercial growth is matched by robust national security safeguards, the minister informed the House that every application for private space activities is evaluated under IN-SPACe’s norms, guidelines and procedures with due consideration to strategic, security and national interests before authorisation is granted. He further said IN-SPACe is preparing dedicated safety and security guidelines for space activities in India, in consultation with stakeholders, to further strengthen the country’s regulatory architecture as private participation continues to expand.
