The Indian government has introduced several schemes to liberalize foreign investment, provide discounted pricing for NGEs, establish venture capital funds, and more to support the space sector.
The Government of India is taking substantial steps to bolster the production and manufacturing of space technology within the country. One such move involves introducing a liberalized Foreign Direct Investment (FDI) policy for the space sector.
The government has also implemented a discounted pricing policy, allowing Non-Government Entities (NGEs) to access Indian Space Research Organisation (ISRO) facilities at reduced costs. Furthermore, a ₹1,000 crore Venture Capital (VC) Fund has been established to support space start-ups.
A ₹500 crore Technology Adoption Fund (TAF) has been launched to accelerate the development, demonstration, and commercialization of indigenous space technologies. In addition, ISRO infrastructure, technical expertise, and mentorship will be made available to promote private sector growth.
Skill development initiatives have been established to address the evolving workforce requirements of the space sector. A Technical Centre offering affordable testing, validation, and simulation facilities for space systems is also being established.
The government aims to transfer ISRO-developed technologies to industry for commercialization and offers opportunities to validate space technologies through the PSLV Orbital Experimental Module (POEM) platform.
Source:
Press Information Bureau
