135 applications received from 135 NGEs in space sector: Union Minister Jitendra Singh

Union Minister Jitendra Singh on Wednesday said that 135 applications have been received by IN-SPACe from 135 non-governmental entities (NGEs) in the space sector, till date.  

The minister laid a statement in the Lok Sabha in reply to a question on start-ups in space. He said that a new seed fund scheme is approved by IN-SPACe board to provide initial financial assistance to Indian space start-ups.  

Singh added that a revised FDI policy in space sector to facilitate overseas investment in NGEs and a national space policy are in the process of final approval of the government.  

Responding about the details of total imports and exports carried out in space tech-based industry in the country, the minister said that during financial year 2021-22, items worth ₹2,114 crore (approx.) were imported for executing various projects/ programmes.  

The major imported items include EEE components, high strength carbon-fibres, space qualified solar cells, detectors, optics, and power amplifiers. During the financial year 2021-22, an amount of ₹174.90 Crore was generated towards export of launch services, data sales and in-orbit support services and post-launch operations.  

The statement said that as per the Gazette notification dated 02.10.2021, IN-SPACe is mandated to promote, enable, authorize and supervise the non-Governmental entities in 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,” the statement added.