Over 100 Space Startups Are Working In India: Prime Minister Narendra Modi

Addressing the 90th episode of ‘Mann Ki Baat’, Modi said that in the past few years, no one even thought about startups that would work in the Indian space sector. However, today, there are over 100 space startups working in the segment. 

“All these startups are working on ideas, which were either not thought about earlier or were considered impossible for the private sector,” Modi said.

The Prime Minister further said that in the past few years, the Indian space sector has accomplished many significant achievements.

Speaking at the show, Modi highlighted the importance of the government-led space agency In-SPACe which is promoting new opportunities for the private space sector. He further added that these opportunities have attracted youngsters across the country.

Recounting his visit to In-SPACe’s headquarters, the Prime Minister said that he met various space startups that were disrupting the space segment with their offerings such as developing launch vehicles, building solar panels for satellite deployers, mapping waste in space and creating flat antennas for satellites. 

Some of the startups he encountered during the visit were Agnikul, Skyroot, Dhruva Space, Digantara and Astrome. 

As per a report, the global space market is estimated to touch a $423 Bn mark. Out of the global market, India merely holds a 2-3% share, which is expected to increase over 10% at a CAGR of 48% by 2030.

Earlier, ISRO chairman S Somanath showed interest in backing the Indian space startups. He said, “Indian space startups will get the required handholding from the Indian National Space Promotion and Authorisation Centre (IN-SPACe) while practicing free-thinking and entrepreneurship.”

Somanath further urged the Indian youngsters to step into the country’s space sector and disrupt it with their solutions and problem-solving skills. “It is important for youngsters to be part of the space ecosystem, riding on what the ISRO has achieved,” He said. 

At present, a novel space policy is in the making that will shore up the manufacturing of satellites in the private space sector. Besides, the Centre is also planning to allow foreign direct investment (FDI) in the space sector. A bill regarding this is yet to be passed in the parliament.