28-07-2025 12:00:00 AM
There were fewer than 50 start-ups five years ago. Today, there are more than 200 startups in the space sector alone
metro india news I new delhi
Over 200 start-ups have come up in space sector alone and with the return from space by astronaut Shubhanshu Shukla, there is a new found enthusiasm among children in India said PM Modi in his monthly Mann Ki Baat radio broadcast on Sunday. The Prime minister further added that the road to Viksit Bharat passes through self-reliance and 'vocal for local' is the strongest foundation of 'Aatmanirbhar Bharat'.
"Recently, there was a lot of discussion in the country about the return of Shubhanshu Shukla from space. As soon as Shubhanshu landed safely on Earth, people jumped with joy, and a wave of happiness ran through every heart. The whole country was filled with pride," he said. A new wave of curiosity about space among children is sweeping across India, Modi said. Modi said space startups are also coming up at a fast pace in the country. "There were fewer than 50 start-ups five years ago. Today, there are more than 200 startups in the space sector alone," he said.
Noting that National Space Day would be marked on August 23, Modi invited suggestions on how this should be celebrated. He highlighted that from Chemistry to Mathematics Olympiads, India's young minds are shining bright. India’s spacetech sector is poised for transformative growth in 2025, with an ambitious goal of achieving a $44 Bn space economy by 2030
Until 2020, India was not open to including private players in space missions. However, in 2020, the Indian government made a significant policy shift by allowing private players to participate in the country’s space missions. For instance, in Budget 2024-25, finance minister Nirmala Sitharaman announced the establishment of an INR 1,000 Cr venture capital (VC) fund, signalling the government’s commitment to boosting the space economy and supporting private-sector innovation at a commercial scale.