“The Indian space technology startup ecosystem has experienced remarkable growth over the past decade, especially post the sector’s liberalization, the government has significantly enabled the private sector’s development through multiple initiatives. Key measures like the Indian Space Policy, 2023, the National Geospatial Policy, 2022, as well as amendments to the Foreign Direct Investment (FDI) policy highlight the support ISRO and In-SPACe have taken for the private space sector.
Most recently, the announcement of allocation of a Rs 1000 crore venture capital fund during the Union Budget 2024 and the announcement of a Public-Private Partnership to develop a comprehensive Earth Observation System, are very positive indicators of the belief of the Government to substantially enhance the sector’s progress.
As an ecosystem, we still look up to the government for the creation of pathways for commercialisation via the private sector, streamlining and accelerating FDI applications and regulatory processes, and exploring updates to taxation policies on intellectual property in the deep tech sector. These efforts will support innovation and drive continued growth and success.”
