img

Union Finance Minister Nirmala Sitharaman announced the establishment of a Rs 1,000 crore venture capital fund to encourage the development of space technology during her Budget 2024 speech.

The fund will significantly help in the expansion of the Indian space economy by five times in the next 10 years.

According to the government, estimates suggest the current size of the Indian space economy is around $8.4 billion as of 2023, representing roughly 2-3% of the global space economy.
 

--Advertisement--

FM Sitharaman VC fund Space technology Startup Funding Investment space industry Indian Space Program space entrepreneurship. "funding news" Business News Economic Growth Innovation Space research Startup India venture capital space development government initiatives Sitharaman announcement.