Summary:

The Indian government has earmarked ₹1,000 crore (US$119.90 million) for a Venture Fund to encourage space entrepreneurs, according to Union Minister Dr. Jitendra Singh. This action demonstrates the government's commitment to the space industry during the first 100 days of the Modi 3.0 administration. Since opening up to private investors four years ago, the number of space companies in India has increased from one to over 200, including breakthroughs such as the Vikram-S rocket.

India's successes in space exploration include the successful landing of Chandrayaan-3 near the Moon's South Pole, which solidified its leadership in the field. The government's 100% foreign direct investment (FDI) policy has inspired new businesses. Looking ahead, the Gaganyaan mission aims to launch the first Indian astronaut into space by 2025, with final testing scheduled soon. Additionally, space technology improves agriculture, urban development, and healthcare, thereby strengthening India's economy and global stature.

Source: IBEF 

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