Dr. Jitendra Singh highlights remarkable growth in India's space startup ecosystem

Looking forward, Dr. Jitendra Singh outlined ambitious targets for India's space sector, projecting a significant increase in the country's global space economy share.

In a significant development, Dr. Jitendra Singh, Union Minister of State for multiple portfolios including Science & Technology, Earth Sciences, and the Department of Space, highlighted a remarkable growth in India's space startup ecosystem. Speaking at a high-level meeting in New Delhi, Dr. Singh emphasized that the number of space startups in India has skyrocketed from just 1 in 2022 to nearly 200 in 2024—an unprecedented increase by 200 times in a span of two years.

This surge, according to Dr. Singh, is directly attributable to a pivotal policy decision spearheaded by Prime Minister Narendra Modi. This decision opened up India's space sector to private enterprises, facilitating robust public-private partnerships and fostering innovation on a grand scale.

The meeting chaired by Dr. Jitendra Singh was convened to review the Department of Space's 100-day Action Plan, assessing the current status, opportunities, and future missions of India's space endeavors. The session included discussions with key officials, including ISRO Chairman S. Somanath and senior representatives.

Highlighting the economic impact of this burgeoning sector, Dr. Singh noted that India's space industry received investments totaling nearly INR 1000 crore in 2023 alone, underscoring the sector's rapid growth and potential. Additionally, the space industry supports approximately 450 Micro, Small, and Medium Enterprises (MSMEs), aligning with the government's inclusive development agenda.

Looking forward, Dr. Jitendra Singh outlined ambitious targets for India's space sector, projecting a significant increase in the country's global space economy share. From contributing 2% in 2021, India aims to capture 8% by 2030 and further expand to 15% by 2047, demonstrating its growing prowess in the global space arena.

The minister also acknowledged the crucial role of the private sector in advancing technologies such as advanced small satellites, geospatial technologies, and orbital transfer vehicles. With 100% Foreign Direct Investment (FDI) permitted in the space sector, India is poised to unlock new frontiers in innovation and economic growth.

Moreover, Dr. Jitendra Singh underscored the role of private players in enhancing sectors critical to Indian society, including agriculture, environment, and governance. He directed officials to facilitate Transfer of Technology (ToT) initiatives from ISRO to private enterprises, aiming to accelerate research, development, and application of space technologies.

The meeting also covered ISRO's forthcoming initiatives and launches, including the high-profile NISAR program—a collaborative Earth-observing mission with NASA. Other projects discussed included GSAT-20, reusable launch vehicle landing exercises, and space docking experiments, highlighting India's expanding capabilities in space exploration and technology.

In conclusion, Dr. Jitendra Singh reiterated the government's commitment to fostering a conducive environment for innovation and growth in the space sector. With robust policy support and active private sector participation, India is poised to achieve greater milestones in space technology, advancing its standing as a global leader in space exploration and utilization.