The number of Space Start-Ups have gone up, from just 1 in 2014 to 189 in 2023 as per DPIIT Start-Up India Portal, Union Minister Dr Jitendra Singh said this in a written reply in the Lok Sabha on 20th December 2023.
Further, the investment in Indian Space Start-Ups has increased to $ 124.7 Million in 2023, he added.
Also, the Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said, the current size of the Indian Space Economy is estimated around $8.4 billion (around 2-3% of global space economy) and it is expected that with the implementation of the Indian Space Policy 2023, $44 billion Indian space economy can be achieved by the year 2033.
The role of the private sector will be prime to achieve the expected economy figure.
It is expected that private sector will take up independently end to end solution in satellite manufacturing, launch vehicle manufacturing, provide satellite services, and manufacture ground systems.
In a separate reply, Dr Jitendra Singh said, presently, FDI in space sector is allowed under Government route for satellite establishment and operations.
In order to promote Foreign Direct Investment (FDI) in Space Sector, the Department of Space in consultation with DPIIT is in the process of reviewing the FDI policy guidelines of space sector, he said.
Dr Jitendra Singh said, some Non-Government Entities (NGEs) launched their own satellites.
Many other Space Industries and Start-Ups are also building their own Satellites & constellations.
These satellites shall contribute to applications in agriculture, disaster management, environmental monitoring, etc.
Dr Jitendra Singh said, while one NGE launched their sub-orbital launch vehicle, a private launchpad and mission control centre has been established within the ISRO campus for the first time by an NGE. Sub-orbital launch by that NGE is scheduled shortly.
The government has announced the Indian Space Policy 2023, which enables end-to-end participation of NGEs in all domain of space activities.
Dr Jitendra Singh enumerated the following other developments and impact in the space sector:
- Private companies are exploring satellite-based communication solutions. Private players are increasingly participating in space-based applications and services.
- Satellite integration and testing facilities are coming up in private sector.
- The local manufacturing of the satellite subsystems and Ground systems are being taken up by private sector.
- Indian private space companies are increasingly entering into collaborations and partnerships with international space organizations and companies.
Dr Jitendra Singh said, efforts that are being taken in reaching out to the academic community as well as young startups through handholding, ecosystem support and funding in the country’s backward areas are as follows:
- A national committee for adoption of space technology education in India is formed by IN-SPACe, with an aim to facilitate and promote the integration of space technology education across academic institutions in India, fostering awareness, skill development and research.
- List of retired ISRO subject experts is published on IN-SPACe Digital Platform (IDP). NGEs can approach these mentors directly for expert advice etc.
- Periodically invite willingness from the technocrats having experience in space sector as mentors and connect them to NGEs.
- To encourage Students/Academic Institutions to carry out space activities, a committee has been constituted which will evaluate their proposal and provide necessary guidance.
- In order to develop quality manpower in the space sector, IN-SPACe is periodically organising skill development short term courses in association with ISRO along with Seed Fund Scheme.
Dr Jitendra Singh said, various schemes to encourage and hand hold private sector also announced and implemented by IN-SPACe, i.e., Seed Fund Scheme, Pricing Support Policy, Mentorship support, Design Lab for NGEs, Skill Development in Space Sector, ISRO facility utilization support, Technology Transfer to NGEs.
Besides, IN-SPACe has signed around 45 MoUs with NGEs to provide necessary support for realization of space systems and applications envisaged by such NGEs, which is expected to increase the industry participation in manufacturing of launch vehicles and satellites, he said.
Dr Jitendra Singh said, there are several industry associations in the country related to space sector, the Indian Space Association (ISpA) being one among them.
The activities being carried out by such industry associations does not come under the purview of government, he said.
Source: https://pib.gov.in/
