Industry requests more finance, clarity on India’s space policy
3 years, 2 months ago

Industry requests more finance, clarity on India’s space policy

The Hindu  

Industrialists told Prime Minister Narendra Modi on Monday that for the space industry to grow, the Government should help small and medium sector enterprises access more capital as well as move faster on finalising its space policy. The industry leaders were speaking at the inauguration of the Indian Space Association, an organisation meant to represent the interests of the Indian space sector with government and private sector bodies across the board including the Indian Space Research Organisation, Walchandnagar Industries, TATA Nelco, Pixxel, Mapmy India and Bharti Airtel. Chirag Doshi, Managing Director and CEO, Walchandnagar Industries, said deeper engagement with academia, industry and government for research and development in space sector was needed and that “opportunity” for SMEs to work closer with Finance Ministry to get better financing was the need of the hour. Nath, MD& CEO, of NELCO, a Tata group company, said the Centre should move to quickly finalise the new space policy as it would help with planning for investments.

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History of this topic

India Inc urges govt to implement industry-friendly reforms
1 day, 1 hour ago

India Inc urges govt to implement industry-friendly reforms

Deccan Chronicle  

New Delhi: India Inc on Sunday urged the government to implement industry-friendly reforms, proposing India's priority sector lending framework and advocating for the inclusion of emerging and high-impact sectors such as digital infrastructure, green initiatives, healthcare and innovative manufacturing. “Similarly, sectors like infrastructure and innovative manufacturing lack adequate PSL focus despite their potential to drive economic growth. We could look …

India Sets Up $119 Million Fund for Space Startups: A Step Towards Boosting Space Ambitions
1 month, 4 weeks ago

India Sets Up $119 Million Fund for Space Startups: A Step Towards Boosting Space Ambitions

Firstpost  

India has approved a $119 million venture capital (VC) fund to support space start-ups in the country. The fund will provide capital to 40 start-ups over the next five years, with an average deployment amount ranging from Rs 10-60 crore. This fund is expected to have a significant impact on India's space ambitions, boosting the country's space economy and creating …

Space Industry Gets a Big Boost with Rs 1,000 Crore Venture Fund
Trending News
1 month, 4 weeks ago

Space Industry Gets a Big Boost with Rs 1,000 Crore Venture Fund

India Today  

Indian space industry welcomes the Union Cabinet's approval of a Rs 1,000 crore venture capital fund for the space sector. This move is seen as a significant boost to the growing space startup ecosystem in India. The fund aims to support 30-40 startups initially, focusing on taking innovative concepts from ideation to commercialisation. It is expected to have a multiplier …

India's space tech sector grew 235% in 2 Years, secured $126 million in 2023
4 months, 3 weeks ago

India's space tech sector grew 235% in 2 Years, secured $126 million in 2023

India Today  

India’s space tech sector is set for significant growth, driven by substantial government investment and strategic initiatives. According to Tracxn’s Space Tech Geo Report 2024, India’s growing Space Tech sector witnessed record-breaking funding of $126 million in 2023, a 7% increase from the $118 million raised in 2022 and a 235% increase from $37.6 million in 2021. Despite a global …

Budget 2024: Centre allocates ₹1000 cr venture fund to boost space economy ‘five-fold in next decade’
5 months ago

Budget 2024: Centre allocates ₹1000 cr venture fund to boost space economy ‘five-fold in next decade’

Hindustan Times  

Union finance minister Nirmala Sitharaman on Tuesday announced the creation of a ₹1,000 crore venture capital fund in the Budget 2024 aimed at expanding the space economy “fivefold over the next decade”. The new venture capital fund is expected to stimulate private sector involvement in space activities, supporting startups and established firms in advancing innovative space technologies. News agency PTI …

Budget 2024: Indian space industry excited about Rs 1,000 crore fund
5 months ago

Budget 2024: Indian space industry excited about Rs 1,000 crore fund

India Today  

The Union Budget 2024 has been met with widespread approval from the space industry, following Finance Minister Nirmala Sitharaman's announcement to expand India's space economy fivefold over the next decade. Lt. Gen. AK Bhatt, Director General of the Indian Space Association, praised the government's commitment, stating, "The Union budget's vision to grow India's space economy by fivefold in the next …

Budget 2024: Nirmala Sitharaman announces Rs 1,000 crore fund to boost space economy
5 months ago

Budget 2024: Nirmala Sitharaman announces Rs 1,000 crore fund to boost space economy

India Today  

Finance Minister Nirmala Sitharaman on Tuesday unveiled an ambitious plan to expand India's space economy fivefold over the next decade, marking a significant leap in the country's space aspirations. In a bold move to propel India's space sector forward, Sitharaman announced the establishment of a Rs 1000 crore venture capital fund dedicated to fostering growth and innovation in space technology. …

Union Budget 2024: Space industry urges government for tax holidays, PLI scheme | DETAILS
5 months, 1 week ago

Union Budget 2024: Space industry urges government for tax holidays, PLI scheme | DETAILS

India TV News  

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget next week, the private space sector has outlined several key expectations. "More money for space-related acquisitions, tax holidays, import holidays, and PLI scheme for space," Pixxel Space co-founder and CEO Awais Ahmed told the media when asked about his wishlist for the budget. "ISpA calls for a commitment from …

Indian space industry offers tremendous opportunity for private players, says ISRO Chief
7 months, 1 week ago

Indian space industry offers tremendous opportunity for private players, says ISRO Chief

Hindustan Times  

Kochi, ISRO Chairman S Somanath has said the Indian space industry is offering a tremendous opportunity to the private sector in the country as a new area of growth and development. Somanath was speaking after unveiling the carbon reduction initiative of SFO Technologies, the flagship company of the NeST Group, in a function here on Saturday, a company release said. …

Need regulatory framework for financial risk coverage of Indian space industry: Report
8 months ago

Need regulatory framework for financial risk coverage of Indian space industry: Report

The Hindu  

India urgently needs a comprehensive insurance strategy, combining regulatory clarity, financial market development and alignment with industries to ensure the success of India’s space sector, said Eshaan Bansal, Young Graduate Research Fellow at Spaceport SARABHAI. Mr. Bansal is the author of the report, Financial Risk Coverage of India’s Commercial Space Launch Industry: Need for Developing Insurance and Reinsurance Capabilities, which …

Indian finance ministry notifies 100% FDI for satellites ahead of Elon Musk's India visit
8 months ago

Indian finance ministry notifies 100% FDI for satellites ahead of Elon Musk's India visit

Firstpost  

Under these new guidelines, foreign investors can now invest up to 100 per cent of FDI into the sector, with 74 per cent being under the automatic route. This includes investments in satellite manufacturing and operations, the ground segment, user segment, as well as satellite data products India will now allow up to 100 per cent FDI investment in satellite …

ISRO’s role in India’s private space sector boom | Explained
8 months, 2 weeks ago

ISRO’s role in India’s private space sector boom | Explained

The Hindu  

April 03, 2024 12:53 pm | Updated 02:56 pm IST The story so far: As the Indian Space Research Organisation forays further into space with missions to the sun and the moon, with space telescopes, landers, and astronauts, the nation’s space sector is also expanding beyond ISRO. While production of launch vehicles, satellites, spacecrafts, and boosters was mainly handled by …

India targets massive increase in share of global space economy
9 months, 2 weeks ago

India targets massive increase in share of global space economy

Firstpost  

The government’s emphasis on growing India’s space footprint is indicative of its dedication to promoting innovation and entrepreneurship in the field. The Indian space economy is anticipated to grow significantly in the upcoming years due to the government’s ambitious ambitions and growing private engagement Pointing out the recent increase in private investment in the space industry, the minister credited it …

The next frontier: On India’s space sector
10 months ago

The next frontier: On India’s space sector

The Hindu  

Space used to be the final frontier but its increasing exploration has changed that, replacing a romantic notion with narratives with financial, socio-economic, and geopolitical implications. India started on this path in 2020 with state-led reforms that opened its space sector to private companies, then releasing the ‘Geospatial Guidelines’ and later the ‘Indian Space Policy’, creating the Indian National Space …

GoI loosens FDI restrictions on India's private aerospace sector, wants to attract major investments
10 months ago

GoI loosens FDI restrictions on India's private aerospace sector, wants to attract major investments

Firstpost  

The Government of India is loosening its FDA norms for private aerospace sector as it wants to attract major investments. Under the amended FDI policy, India now permits up to 74 per cent FDI under the automatic route in satellite manufacturing and operation The Government of India is loosening its FDA norms for private aerospace sector as it wants to …

India eases process for FDI in space sector, allows 100 per cent in making satellite components
10 months ago

India eases process for FDI in space sector, allows 100 per cent in making satellite components

India TV News  

In a significant move aimed at bolstering its position in the global space market, India has announced the easing of approval processes for foreign direct investment in its space sector. Private sector participation India has taken significant steps to privatise space launches, aiming for a substantial increase in its share of the global launch market. With projections suggesting the space …

Centre announces 100% Foreign Direct Investment in Space sector, move expected to attract potential investors to Indian space companies
10 months ago

Centre announces 100% Foreign Direct Investment in Space sector, move expected to attract potential investors to Indian space companies

Op India  

In a significant move, the Modi government has announced 100% Foreign Direct Investment in the space sector. The Union Cabinet approved the amendment in the FDI policy on the space sector dividing the satellites sub-sector into three different activities with defined limits for foreign investment in each such sector. The Centre stated that the proposed reforms will liberalize the FDI …

100% FDI to be allowed in space sector: Centre
10 months ago

100% FDI to be allowed in space sector: Centre

The Hindu  

Prime Minister Narendra Modi-led Union Cabinet on Wednesday took a series of key decisions, which included the approval for amendments to the existing Foreign Direct Investment policy on space sector. The liberalised entry routes under the amended policy are aimed to attract potential investors to invest in Indian companies in space,” said Union Minister Anurag Thakur. The amended policy extends …

Indian space industry's meteoric rise in 2023 sets stage for stellar 2024
11 months, 1 week ago

Indian space industry's meteoric rise in 2023 sets stage for stellar 2024

India Today  

2023 was a marvelous year for the Indian Space Industry with the successful launch of Chandrayaan-3 and the Aditya-L1, India’s first solar mission. Indian space startups have become a strong pillar for the private space industry in the last decade, especially after the landmark decision to open the Indian space sector to private companies by Prime Minister Narendra Modi in …

Govt wants private sector to invest in space; companies wait to see commitment from govt
1 year ago

Govt wants private sector to invest in space; companies wait to see commitment from govt

The Hindu  

December 04, 2023 07:00 am | Updated 07:00 am IST - Bengaluru The global space economy is currently around $447 billion, according to estimates by McKinsey. However, despite the success of the Chandrayaan-3 mission and the introduction of aspace policy in April 2023, a host of factors seem to make investment in space sector a cautious prospect for private players. …

’Space policy has been a game changer in India’s private space-tech arena’
1 year, 1 month ago

’Space policy has been a game changer in India’s private space-tech arena’

Live Mint  

Space-tech company Skyroot Aerospace has raised $27.5 million in a pre-Series C funding round led by Singapore-based investment firm Temasek, confirming India’s status as a rising private space-tech power. Co-founder and CEO of the company, Pawan Kumar Chandana, widely regarded as a pioneer in India’s private space-tech arena, says the aspiration is to build a strong space-tech enterprise for the …

India’s space economy has potential to reach $44 billion by 2033 with about 8% global share
1 year, 2 months ago

India’s space economy has potential to reach $44 billion by 2033 with about 8% global share

The Hindu  

Indian National Space Promotion and Authorization Centre unveiled the decadal vision and strategy for the Indian space economy, on October 10. As per IN-SPACe’s projection, India’s space economy has the potential to reach ₹35,200 crore by 2033 with about 8% of the global share. Dr. Pawan Goenka, chairman, IN-SPACe said, “As we unveil the decadal vision for Indian space economy, …

Chandrayaan-3 Success: Making a Case for Liberalising the Space Sector - News18
1 year, 3 months ago

Chandrayaan-3 Success: Making a Case for Liberalising the Space Sector - News18

News 18  

The day of 23 August was historic for India and the Indians. When the Chandrayaan-3, India’s third lunar exploration mission, was landing on the moon’s surface, the Indians were watching nervously across the width and breadth of India and around the globe. India’s moon mission has a budget of just 1 per cent of the one-year budget of NREGA, one …

India Unleashing Reforms In Space Domain
1 year, 6 months ago

India Unleashing Reforms In Space Domain

Live Law  

India’s formal entry into space industry was largely in 1962 when Indian National Committee for Space Research was established by Government of India under the aegis of Dr. Vikram Ambalal Sarabhai. In addition to the Draft Space FDI Policy, ISRO revealed the Indian Space Policy 2023 on April 20, 2023. With the advent of Indian Space Policy 2023 and the …

A ground view of the Indian Space Policy 2023
1 year, 7 months ago

A ground view of the Indian Space Policy 2023

The Hindu  

On April 20 this year, the Indian Space Research Organisation released the Indian Space Policy 2023 that had been in the works for some years. Considering that space-based intelligence, reconnaissance, surveillance, communication, positioning and navigation capabilities are increasingly seen as mission critical by the defence services, that India conducted a successful A-SAT direct ascent test in March 2019, and, in …

Space policy draws cautious optimism
1 year, 8 months ago

Space policy draws cautious optimism

The Hindu  

The Centre’s updated Space Policy, cleared by the Union Cabinet on April 6 but made public on Thursday has drawn measured optimism from the India’s budding private sector start-up space. This will mean developing new space technologies and applications “…to maintain India’s edge” in the areas of space infrastructure, space transportation, space applications, capacity building and human spaceflight. Hereafter, mature …

After Bengaluru, Hyderabad, UP Next for Space Startup Ecosystem Growth: ISpA Chief - News18
1 year, 10 months ago

After Bengaluru, Hyderabad, UP Next for Space Startup Ecosystem Growth: ISpA Chief - News18

News 18  

At present all space startups are mostly from cities like Bengaluru, Hyderabad, and Chennai, but opportunities for ecosystem development are there in Uttar Pradesh also, Lt Gen AK Bhatt, director general of the Indian Space Association, told News18 in an exclusive conversation. PLI and financial support Lt Gen Bhatt highlighted the fact that India needs production-linked incentive schemes for the …

Space economy poised for expansion, indicates study
2 years ago

Space economy poised for expansion, indicates study

The Hindu  

India’s space economy is in a state of transition and, driven by national policies, the sector is poised for expansion through enhanced private investment and improved integration with the global private space industry, a study on the space economy has noted. The research paper noted that the space economy ‘‘has evolved considerably’‘ and now accounts for an average of about …

Indian space economy set to grow $13 bn by 2025
2 years, 2 months ago

Indian space economy set to grow $13 bn by 2025

The Hindu  

Indian space economy is set to reach $13 billion by 2025, according to a joint report prepared by EY and the Indian Space Association, an apex industry association of space and satellite companies in the country. The report also said the space launch segment would grow fastest at a CAGR of 13% spurred by growing private participation, latest technology adoption …

'Reforms in Every Sphere Make Greater Space for People and Freedom': PM
2 years, 4 months ago

'Reforms in Every Sphere Make Greater Space for People and Freedom': PM

News 18  

Prime Minister Narendra Modi on Friday said the ruling NDA has changed the notion that a strong government means it should control everything and everyone and hailed the spree of sectoral reforms, insisting it has opened up new avenues and given the much required infra push. This is why you see reforms in every sphere that make greater space for …

Explained | Why is India’s space industry looking for private sector investment?
2 years, 4 months ago

Explained | Why is India’s space industry looking for private sector investment?

The Hindu  

The story so far: Principal Scientific Adviser Ajay Kumar Sood stated earlier this month that the government would soon come up with a new space policy that could initiate the rise of India’s own “SpaceX-like ventures”. In June 2020, the Union government announced reforms in the space sector enabling more private players to provide end-to-end services. Private sector’s involvement in …

Every citizen in India has celebrated achievements of our scientists: PM Modi in Gujarat
2 years, 6 months ago

Every citizen in India has celebrated achievements of our scientists: PM Modi in Gujarat

Firstpost  

Addressing the inauguration ceremony of IN-SPACe headquarters in Ahmedabad, Prime Minister Narendra Modi said it will create an opportunity for youths to showcase their talent and for the best minds to come together to propel this sector Ahmedabad: Noting that every citizen in India has celebrated the achievements of our scientists, Prime Minister Narendra Modi on Friday termed the launch …

PM Modi Launches IN-SPACe Headquarters In Ahmedabad: What Is It And Why Is It Important
2 years, 6 months ago

PM Modi Launches IN-SPACe Headquarters In Ahmedabad: What Is It And Why Is It Important

News 18  

Prime Minister Narendra Modi inaugurated the headquarters of the Indian National Space Promotion and Authorisation Centre at Bopal, Ahmedabad today. The Prime Minister termed the launch of IN-SPACe as a ‘watch this space’ moment for the Indian space industry as it is a precursor to many development and opportunities. Whether they are working in the government or in the private …

New space policy soon; India can have its own 'SpaceX-like ventures': Sood
2 years, 6 months ago

New space policy soon; India can have its own 'SpaceX-like ventures': Sood

The Hindu  

Seeking to further increase private participation, the government will soon unveil a new space policy that could see the rise of India’s own “SpaceX-like ventures”, Principal Scientific Advisor Ajay Kumar Sood has said. In an interview to PTI, the government’s top science advisor said consultations have taken place and the final version of the space policy would soon be referred …

New space policy soon; India can have its own 'SpaceX-like ventures': Principal Scientific Advisor Sood
2 years, 6 months ago

New space policy soon; India can have its own 'SpaceX-like ventures': Principal Scientific Advisor Sood

India TV News  

Highlights Govt will soon unveil a new space policy that can cause India to have its own SpaceX ventures Final version of the space policy would be referred to the Empowered Technology Group SpaceX, a private company designs, manufactures and launches advanced rockets Seeking to further increase private participation, the government will soon unveil a new space policy that could …

Indian space dreams soar with launch of Indian Space Association
3 years, 2 months ago

Indian space dreams soar with launch of Indian Space Association

Deccan Chronicle  

NELLORE: Prime Minister Narendra Modi launched Indian Space Association - the premier industry association of space and satellite companies - in New Delhi on Monday. Speaking on the occasion, he said ISpA will help realise the Centre’s vision of making India Atmanirbhar and a global leader in space, which is fast emerging as the next growth frontier for mankind. ISpA …

India Never Had More Decisive Govt, Says PM Modi, Cites Example of Air India to Assert Commitment
3 years, 2 months ago

India Never Had More Decisive Govt, Says PM Modi, Cites Example of Air India to Assert Commitment

News 18  

Prime Minister Narendra Modi on Monday launched Indian Space Association, an industry body aspiring to be the voice of the country's space sector, and underlined his dispensation's commitment to reforms, saying the country never had a more decisive government. Modi cited the government's success in privatising loss-making public airline Air India to assert that this shows its commitment and seriousness. …

Centre receives 27 proposals from private companies to speed up India's space activity
3 years, 5 months ago

Centre receives 27 proposals from private companies to speed up India's space activity

India Today  

As India sets eyes on the space sector and looks to boost its presence in the field amid a growing push from the US, China and Russia, 27 proposals have reached the government from private companies for various space-related activities. With the space sector reforms, the Indian private space industry is slated to contribute to the core elements of the …

With Space 2.0, India’s entrepreneurial odyssey has the potential to take off
3 years, 5 months ago

With Space 2.0, India’s entrepreneurial odyssey has the potential to take off

Hindustan Times  

The year 2022 represents a significant milestone for India’s space industry. The Indian Space Research Organisation has been at the helm of India’s rich space heritage with several remarkable achievements, including successful space missions and development of technologies to foster India’s self-reliance and progress. Over the past 50 years, India’s space programme has contributed to the rise of an array …

When space is more than rocket science
3 years, 9 months ago

When space is more than rocket science

Live Mint  

Space is not easy. More than 50 years later, as India celebrates National Science Day on 28 February, Isro’s PSLV-C51 launch will mark a new beginning for the country’s commercial and private space sectors. Isro’s 53rd PSLV mission, the PSLV-C51 is the first dedicated commercial mission of NewSpace India, set up in 2019 as a commercial subsidiary of the space …

Laws Being Put in Place to Ease Business Environment for Private Sector in Space Segment: ISRO
4 years, 3 months ago

Laws Being Put in Place to Ease Business Environment for Private Sector in Space Segment: ISRO

News 18  

With the recent announcement of space sector reforms, the Indian Space Research Organisation on Tuesday said necessary legislations are being put in place to ease the business environment for private players. "We need to do some of the activities to ensure that there is no hardship, so a comprehensive space act is required, as well as the different policies should …

Space Sector Reforms Not Aimed at Privatisation of ISRO, Says Chairman K Sivan
4 years, 4 months ago

Space Sector Reforms Not Aimed at Privatisation of ISRO, Says Chairman K Sivan

News 18  

The recently announced space sector reforms are not aimed at privatisation of Indian Space Research Organisation, its Chairman and Secretary in the Department of Space, K Sivan asserted on Thursday. Further observing that with the opening of the space sector, ISRO can focus on technology development and capacity building Sivan said in addition to that it will also facilitate private …

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