Union Finance Minister Nirmala Sitharaman announced a Rs 1,000 crore venture capital fund to boost India's space economy and privatize space launches.

Union Finance Minister Nirmala Sitharaman announced a Rs 1,000 crore venture capital fund to boost India's space economy, aiming for a five-fold increase in the next 10 years. The fund will support private sector innovation and commercial development in space technology. India has privatised space launches and is aiming for a larger share of the global space market, currently accounting for about 2% of the space economy.

July 23, 2024
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