Union Minister Dr. Jitendra Singh has called on industry leaders to step up investments and participation in India's space sector, emphasizing that stronger private-sector involvement is essential for building globally competitive indigenous technologies and strengthening the country's position in the global space economy.

Speaking at the 10th IN-SPACe Industry Connect event, the Minister highlighted the transformation of India's space ecosystem following the government's decision to open the sector to private participation. He noted that policy reforms, including the Indian Space Policy 2023 and the liberalised Foreign Direct Investment (FDI) framework, have created new opportunities for innovation, investment, and collaboration.

Dr. Singh stated that India's space ecosystem has expanded rapidly, growing from a handful of private players to more than 400 start-ups and numerous established companies engaged in areas such as launch vehicles, satellites, propulsion systems, Earth observation technologies, and downstream space applications.

To support innovation and commercialization, the government has introduced several initiatives, including a Rs 1,000 crore Venture Capital Fund and a Rs 500 crore Technology Adoption Fund. Additional measures such as seed funding, incubation support, skill development programmes, and specialised space technology education are aimed at creating a strong talent pipeline for the sector.

The Minister stressed that while start-ups have demonstrated significant innovation and agility, achieving leadership in the global space economy will require greater participation from established industries with stronger financial resources, manufacturing capabilities, and market reach.

He also acknowledged industry concerns regarding regulatory approvals and operational processes, assuring stakeholders that the government remains committed to creating a business-friendly environment that encourages innovation and entrepreneurship.

Dr. Singh underscored the importance of collaboration among government agencies, industry, academia, investors, and state governments to accelerate the development of India's space ecosystem and advance the vision of an Atmanirbhar (self-reliant) space sector.

He concluded by stating that India's ambitions in space can only be realised through collective efforts and called upon all stakeholders to contribute towards making the country a leading force in the global space industry.