Massive sum allocated for venture fund to support space startups

Union Minister for Science and Technology, Dr. Jitendra Singh, announced that ₹1,000 crore has been allocated for a venture fund aimed at supporting space startups.

During a briefing on the key achievements of the first 100 days of the Modi government 3.0 in New Delhi, the Minister highlighted that the number of space startups in India has surged to over 150,000 in the past decade, positioning the country as the third-largest space ecosystem globally.

Dr. Singh noted that the Indian space sector has experienced remarkable growth, expanding from just a handful of companies to more than 200 within a short period.

He also emphasized that the 100% Foreign Direct Investment (FDI) provision implemented by the Modi government has significantly boosted new initiatives and encouraged entrepreneurs in the space sector.

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