Space Startups in India attract investment worth over 1000 crore rupees during last nine months in current fiscal year

Union Minister Jitendra Singh has said that space sector startups in the country have attracted private investment worth over 1,000 crore rupees during the last 9 months of the current financial year. He said, India’s Space economy today stands at a modest 8 billion dollars, but by 2040 it will multiply manifold. Mr. Singh said, the Arthur D Little Report has projected the Indian Space economy to touch 100 billion dollars by 2040. 

Dr Jitendra Singh said, ISRO has so far launched more



than 430 foreign satellites, earning more than 290 million euros from European satellites and over 170 million dollars by launching American satellites. He said that India has a rapidly rising number of Space Startups since Prime Minister Narendra Modi initiated reforms and opened the sector to public-private participation. Dr Singh said within a short span of just about four years, the number of Space Startups has gone up from a mere single digit to over 1,180.