The Indian government has announced a ₹1,000 crore funding initiative to support space sector startups.
Union Minister Jitendra Singh stated that the scheme will accelerate the growth of the sector in the coming years.
Approved by the Union Cabinet in October last year, the fund will be managed by SIDBI Venture Capital to provide risk capital and help startups scale globally.
The deployment plan includes ₹150 crore for 2025-26, followed by ₹250 crore annually for the next three years, and ₹100 crore in 2029-30.
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Jitendra Singh highlighted the significant rise in the Department of Space’s budget, which increased by 138% from ₹5,615 crore to ₹13,416 crore.
The Indian Space Policy, introduced in April 2023, aims to strengthen the domestic space economy by encouraging private sector involvement, fostering R&D, and granting access to public infrastructure and expertise.
