Centre invests Rs 211 crore in Indian space sector under startup fund scheme: Goyal

The central government has invested Rs 211 crore in India’s space sector under the ‘Fund of Funds for Startups’ (FFS) scheme, Union Minister Piyush Goyal announced. He said the funding will encourage innovation, support young entrepreneurs, and help India strengthen its role in the global space industry.

Goyal highlights Startup India’s impact

In a post on X, Goyal said the government is supporting bold ideas through the Startup India initiative by giving crucial resources to local innovators in space technology. He noted that this support is driving the growth of advanced technologies and helping India strengthen its position as an emerging space power. Guided by Prime Minister Narendra Modi’s vision, the focus remains on innovation, self-reliance, and youth-led entrepreneurship, with space being used not only for exploration but also for meaningful transformation. In a separate post, Goyal mentioned that Indian startups are making fresh strides toward achieving self-reliance in the space sector. He pointed out that reforms under the Startup India initiative have inspired young entrepreneurs, with companies like Ethereal X contributing to space achievements and building India’s global image as a hub of innovation and independence.

Government schemes supporting startups

Through the Startup India initiative, the government is running three major schemes—the Fund of Funds for Startups (FFS), the Startup India Seed Fund Scheme (SISFS), and the Credit Guarantee Scheme for Startups (CGSS). These schemes are designed to assist startups at different stages of their growth. FFS is meant to encourage venture capital investments and is managed by the Small Industries Development Bank of India (SIDBI). SIDBI channels money to SEBI-registered Alternative Investment Funds (AIFs), which in turn invest in startups. Under the FFS scheme, these AIFs are required to invest at least double the amount they get. Till June 30, 2025, commitments worth Rs 9,994 crore have been made to 141 AIFs under this scheme.

PM Modi on the private sector in space

In honour of National Space Day 2025, Prime Minister Modi gave a video address on Saturday. He recalled that there was once a time when space was restricted and private sector involvement was not allowed. Those barriers, he said, have now been removed, giving private players the chance to take part in space tech. The Prime Minister said that over 350 startups are currently leading innovation in space technology. He announced that the country’s first PSLV rocket made by a private company will be launched soon. Modi also revealed that work is in progress on India’s first privately built communication satellite, along with plans to launch an Earth Observation Satellite Constellation through a public-private partnership.

Budget reflects growing focus

The Prime Minister stressed that huge opportunities are being created for India’s youth in the space sector. He pointed out that India’s space budget has almost tripled in the past decade, rising from Rs 5,615 crore in 2013–14 to Rs 13,416 crore in 2025–26, reflecting the government’s strong commitment to the sector.