Union Minister of State (Independent Charge) Science & Technology, Atomic Energy and Space Dr Jitendra Singh said IN-SPACe received 135 applications from 135 Non-Governmental Entities (NGEs) for space project
Union Minister Dr Jitendra Singh says a revised FDI policy in space sector to facilitate overseas investment in NGEs and a National Space Policy are in the process of final approval of the Government.
New Delhi, NFAPost: Union Minister of State (Independent Charge) Science & Technology, Atomic Energy and Space Dr Jitendra Singh said during the financial year 2021-22, Indian space sector generated an amount of Rs 174.90 crore towards export of launch services, data sales and in-orbit support services and post-launch operations.
On the question of details of total imports and exports carried out in space tech-based industry in the country, the Minister said during financial year 2021-22, items worth Rs 2,114 Crore (approx.) were imported for executing various projects/ programmes.
The major imported items include EEE components, high strength carbon-fibres, space qualified Solar Cells, Detectors, Optics, Power Amplifiers etc.
To another query, the Minister informed that till date, 135 applications have been received by IN-SPACe from 135 Non-Governmental Entities (NGEs) in the Space Sector.
Dr Jitendra Singh laid a Statement on the table of the Lok Sabha in reply to a question on startups in Space and informed that a new Seed fund scheme has been approved by IN-SPACe Board to provide initial financial assistance to Indian space start-ups.
The Minister said, a revised FDI policy in space sector to facilitate overseas investment in NGEs and a National Space Policy are in the process of final approval of the Government.
The Statement says that as per the Gazette notification dated 02.10.2021, IN-SPACe has been mandated to promote, enable, authorize and supervise the non-Governmental entities in Space sector in India. IN-SPACe has started authorizing Indian Space companies for utilization of ISRO facilities for the private companies / start-ups, installation of facilities within ISRO campuses, Launch of Satellites and launch vehicles, and Mentorship support. With the announcement of Space Sector reforms, private players have started contributing to the Space economy and their share is increasing.
