Dr Jitendra Informs Lok Sabha About Space Startups, Space Economy Initiatives

NEW DELHI, Feb 8 : Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh informed the Lok Sabha today that 135 applications have been received by IN-SPACe from StartUps and 135 Non-Governmental Entities (NGEs) in the Space Sector.
In order to promote and encourage PPP model projects and Startups, a central PSU called “NewSpace India Limited (NSIL)” was established and as a single window nodal agency to promote non-Government entities and to create an ecosystem for the same, an interface was created which was called “Indian National Space Promotion and Authorization Centre”(IN-SPACe),the Minister stated.
Regarding StartUps in Space, Dr Jitendra Singh informed that a new Seed fund scheme has been approved by IN-SPACe Board to provide initial financial assistance to Indian Space Start-ups.
Dr Jitendra Singh said, a revised FDI policy in the Space sector to facilitate overseas investment in NGEs and a National Space Policy is in the process of final approval of the Government. During the financial year 2021-22, an amount of Rs. 697 crore was generated towards export of launch services, data sales and in-orbit support services and post-launch operations.
On the question of details of total imports and exports carried out in the Space tech-based industry in the country, the reply stated that during the financial year 2021-22, items worth Rs. 2,114 crore (approx.) were imported for executing various projects/ programmes.
Later, when asked by the media to furnish details regarding a question replied by him in the Lok Sabha, Dr Jitendra Singh said, foreign satellites launching has yielded substantial earnings after 2014, ever since Narendra Modi took over as Prime Minister.
Out of 385 foreign satellites launched so far, as many as 353 have been launched only after 2014 when Narendra Modi took over as Prime Minister. This has been possible because of the fast- track on which the Indian Space Research Organisation (ISRO) was enabled to move with special priority and promotion by Prime Minister Modi.
The Minister said that out of 385 satellites launched so far from 34 different countries, as many as 353 were launched after Narendra Modi took over as Prime Minister, in the last 8 years. Not only this, he elaborated that out of a total 220 million Euros earned from the launching of satellites for different European countries, as much as 187 million Euros were earned after 2014 and likewise out of total of 56 millions US dollars earned from the launch of American satellites as much as 39 US dollars were earned during the Modi regime after 2014.
Earlier in reply to a question in the Lok Sabha Dr Jitendra Singh furnished details of the pathbreaking headway made after Prime Minister Modi’s revolutionary decisions three years back to open the space sector for private participants.
The major imported items include EEE components, high strength carbon-fibres, space qualified Solar Cells, Detectors, Optics, Power Amplifiers etc.
The Statement says that as per the Gazette notification dated 02.10.2021, IN-SPACe has been mandated to promote, enable, authorize and supervise the non-Governmental entities in the Space sector in India. IN-SPACe has started authorizing Indian Space companies for utilization of ISRO facilities for the private companies / Start-ups, installation of facilities within ISRO campuses, Launch of Satellites and launch vehicles, and Mentorship support. With the announcement of Space Sector reforms, private players have started contributing to the Space economy and their share is increasing.