Union Minister Dr Jitendra Singh says, 135 applications have been received by IN-SPACe from 135 Non-Governmental Entities (NGEs) in the Space Sector till date
Union Minister Dr Jitendra Singh says, 135 applications have been received by IN-SPACe from 135 Non-Governmental Entities (NGEs) in the Space Sector till date
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.
In 2021-22, an amount of Rs. 175 Crore was generated towards export of launch services, data sales and in-orbit support services and post-launch operations: Dr Jitendra Singh
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 today informed that till date, 135 applications have been received by IN-SPACe from 135 Non-Governmental Entities (NGEs) in the Space Sector.
Dr Jitendra Singh today laid a Statement on the table of the Lok Sabha in reply to a question on Start-Ups in Space and 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 space sector to facilitate overseas investment in NGEs and a National Space Policy are in the process of final approval of the Government.
On the question of details of total imports and exports carried out in space tech-based industry in the country, the Statement says that during financial year 2021-22, items worth Rs. 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, Power Amplifiers etc.
During the financial year 2021-22, an amount of Rs. 174.90 Crore was generated towards export of launch services, data sales and in-orbit support services and post-launch operations.
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 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.
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