“Unshackling” of Space sector has led to StartUp boom, says Dr Jitendra Singh

Department of Space

Posted On: 24 OCT 2023 5:15PM by PIB Delhi

Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space said in Hyderabad today that “unshackling” of the Space sector by Prime Minister Shri Narendra Modi has led to StartUp boom, as a result of which, within a short span of just about four years, the number of Space StarUps has gone up from a mere  single digit to over 150, with some of the earlier ones like the “Skyroot” turning into lucrative entrepreneurs. 

During a visit to the newly setup facility of Skyroot in a premises of 60,000 Square Feet in Hyderabad which is possibly India’s largest rocket factory in private sector, Dr Jitendra Singh said, Skyroot  is not only example  of India’s superlative talent and scientific acumen but it also has message for all of us that a huge potential was lying dormant for several decades before Prime Minister Narendra Modi came and broke the taboos of the past and opened India’s Space Sector for Public Private Partnership (PPP). 

“Skyroot Aerospace” was the first Space StartUp to have launched a private rocket from ISRO station at Sriharikota last year after the Space sector was thrown open to private players over three years ago. Headed by two IITians, Pawan and Bharat, they have now set up India’s largest Rocket developing facility with updated technology. It has capacity to develop  cost effective rocket, on demand. 

Referring to Amritkaal and Prime Minister’s vision for “India@2047”, Dr Jitendra Singh said, the value addition to India’s economy is going to come from hitherto unexplored sectors including the Space sector. From that point of view, he said, the Space economy is going to make a significant contribution to the nation’s economy when Independent India celebrates its 100th Independence Day and will be a frontline nation of the world.  

“Over the last 9 years the country has made rapid strides in every area of Science & Technology, thanks to the able leadership of the Prime Minister Shri Narendra Modi,” he said.

Skyroot is India’s largest private rocket development facility under a single roof.

In yet another milestone for the Indian private Space sector, Dr. Jitendra Singh also unveiled Skyroot’s Vikram-1 orbital rocket. Vikram-1 is expected to mark yet another first for India, since the country opened up the Space sector to private players in 2020 in a landmark reform.

“The success of Skyroot is an inspiration to India’s vast youth talent pool aspiring to set up their own Startup ventures, especially in new and emerging sectors including Space, BioTech, Agriculture and Energy,” said Dr. Jitendra Singh.

The Minister said that PM Modi has enabled India to earn universal recognition for India’s Science, Technology and Innovation capabilities and our StartUps are much sought after. 

Dr Jitendra Singh said, Dr Vikram Sarabhai, the first Chairman of ISRO and the founding father of India’s Space Programme, always insisted on ISRO playing a meaningful role “nationally” and said it was a vindication that during the nine years of the Government led by Prime Minister Modi, the youth talent of India, which was waiting to be explored, got new wings. 

Dr Jitendra Singh said India’s Space missions are designed to be cost effective, building upon human resources and skills.

Stating that the “Anusandhan National Research Foundation” will pave the way for a greater PPP model in scientific research, Dr Jitendra Singh said the NRF will catapult us to the league of a handful of Developed nations pioneering new research in new frontiers.

“NRF budget envisions a spending of Rs. 50,000 crore over five years, out of which a major share of Rs. 36,000 crore, over 70%, is estimated to come from non-government sources, from industry & philanthropists, from domestic as well as outside sources,” he said.

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