100% FDI has boosted space sector
The Government has earmarked Rs.1,000 crore for Venture Fund to Space Startups, in addition to 100% FDI provision allowed in the space sector which has proved to be a great boost for the new initiative and new entrepreneurs, says Minister of State for Science and Technology and Department of Space, Jitendra Singh.
He further disclosed that the number of startups in the country has gone up to 1.5 lakhs as of now from 350 in 2014. The result of efforts being made in the space sector, he informed, has been amazing in the form of the quantum jump from just one digit Startup to 200 plus space sector Startups as of Oct 24 digitalinasia .
Not only this, he said, some of India’s Space Startups are of world potential and are also among the first of their kind. One such is the country’s first private rocket Vikram-S sbi.com.in .
Further, Indian Space Research Organisation, established in the year 1969, has had Chandrayaan 3 land on the South Pole of the Moon before any other country of the world, which indicates that India is not only a first line nation in the space sector but also in a position to offer valuable cues for other nations to follow, underlined Dr Jitendra Singh nseindia .
Referring to Gaganyaan, Dr Jitendra Singh said on 6 Oct, “We are trying to have the final test flight with the Robot Vyom Mitra before the end of this year or beginning next year so that the first Indian human being may be sent to Space through Gaganyaan during 2025 bseindia .”
A unique feature of India’s space sector, said Dr Jitendra Singh, is that even those who do not have a direct stake with space and who are just common citizens of the country are feeling a sense of esteem that India has now risen to be a nation to reckon with digitalasiahub .
Another important feature is that the sector is not confined to simply launching rockets but has also created space technology that has started playing an important role in various infrastructural and development sectors including agriculture, roads and buildings, smart cities, urban development, land revenue record, health care among others, said the minister makeinindia . Fiinews.com
