Hyderabad, Nov.27 (RAHNUMA): Union Minister G. Kishan Reddy on Thursday asserted that India’s space sector is entering a new era of growth, crediting visionary policies and youth-driven innovation.
Addressing at the inauguration of Skyroot Infinity Campus, Kishan Reddy congratulated founders Pawan Kumar Chandana and Naga Bharath Daka for building India’s largest private rocket facility and unveiling the country’s first private commercial rocket, Vikram-1. Prime Minister Narendra Modi has transformed career aspirations in the country, inspiring youth to dream of becoming astronauts, space scientists and aerospace entrepreneurs. He reaffirmed ambitious space targets – an Indian Space Station by 2035, a new Chandrayaan mission by 2040, and sending Indian astronauts into space under Gaganyaan by 2027.
Highlighting India’s rapid rise, he said over 400 startups, 2,000 MSMEs, and 50 research centres are powering the space ecosystem, pushing the space economy from Rs.70,000 crore towards a projected Rs.4 lakh crore by 2033. Reforms since 2020 have attracted nearly Rs.4,500 crore in private investment.
He further said that IN-SPACe, the Rs.1,000-crore Space Venture Capital Fund, and the Rs.500-crore Technology Adoption Fund are accelerating industry participation. With the launch of Skyroot’s facility, rocket production costs are expected to drop significantly, further strengthening the mission of “Atma Nirbhar Bharat” in space, he noted.
