India's Space startups secure ₹1,000 crore in private investments, says minister

Union Minister of Science and Technology, Jitendra Singh, highlighted India's thriving space sector, projecting a potential leap from the current $8 billion to a remarkable $100 billion by 2040. Speaking at the India Today conclave, Singh cited international observers, including the recent ADL Report, supporting this optimistic outlook for India's space economy.

ALSO READ: Post-Congress poll setback, INDIA Bloc gears up for 'Main nahi, hum' unity at December 19 meeting

Space startup surge: ₹1,000 crores private investment fuels India's cosmic ambitions

Singh announced a substantial boost in private investments, with space startups in India attracting over ₹1,000 crores since April. He credited the dynamic growth to Prime Minister Narendra Modi's initiative, breaking barriers and fostering public-private participation in the space sector. The minister highlighted the exponential rise of space startups from just a handful to a staggering 1,180 within a brief span of four years. Singh emphasized India's global impact, with the Indian Space Research Organisation (ISRO) having launched over 430 foreign satellites, generating significant revenue from European and American satellites.

ALSO READ: Shah criticizes Congress over Supreme Court's Article 370 verdict, expresses frustration