Space startups grown 200 times in just two years,” Says Union Minister Dr. Jitendra Singh

India’s share in global space economy to rise 4 times by 2030: MoS Department of Spacecraft

“There has been around 200 times increase in Space StartUps in just about two years,” said Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology, Minister of State (Independent Charge) for Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space,Personnel, Public Grievances and Pensions, here at New Delhi today.

This quantum jump has been possible because of a major policy decision taken by Prime Minister Narendra Modi to open up the Space sector to the private sector and allow public-private participation in a big way, said the Minister.

The Government today said that the country’s share in the global space economy is projected to increase fourfold by 2030 compared to 2021. Minister of State in the Department of Space Dr. Jitendra Singh made this statement while chairing a high-level meeting to review the 100-day Action Plan of the Department of Space in New Delhi. He took stock of the present status, the opportunities, and future space missions of India’s space sector.

During the meeting, Dr. Singh also mentioned that Space Startups have increased from 1 in 2022 to nearly 200 in 2024, witnessing an unprecedented rise of 200 times in these years. He added that in the year 2023 alone, nearly 1,000 crore rupees were invested in the country’s space sector in just about eight months.