Kishan Reddy hails Vikram-1 launch, says India’s space sector entering high-growth phase

LatestPoliticsTelangana
By HNH Web Desk
India space sector growth

Hyderabad: Union Minister G. Kishan Reddy on Thursday said India’s space sector is entering a high-growth phase. He credited bold reforms, startup innovation, and strong private investment for the momentum.

Skyroot’s Vikram-1 marks key private breakthrough

At the inauguration of the Skyroot Infinity Campus, Reddy congratulated co-founders Pawan Kumar Chandana and Naga Bharath Daka. The facility is now India’s largest private rocket production hub. It also marks the launch site of Vikram-1, the country’s first private commercial rocket.

Reddy praised Prime Minister Narendra Modi for inspiring a shift in career aspirations. “Today’s youth dream of becoming astronauts, scientists, and aerospace entrepreneurs,” he said.

He also reaffirmed India’s major space goals. These include a domestic space station by 2035, a new Chandrayaan mission by 2040, and crewed spaceflight under Gaganyaan by 2027.

Space economy projected to hit ₹4 lakh crore

Reddy outlined the expanding space ecosystem. Over 400 startups, 2,000 MSMEs, and 50 research centres are already active. Since 2020, policy reforms have drawn ₹4,500 crore in private investment. He said India’s current ₹70,000 crore space economy is projected to reach ₹4 lakh crore by 2033.

Additionally, the Minister highlighted key government initiatives. These include IN-SPACe, the ₹1,000-crore Space Venture Capital Fund, and a ₹500-crore Technology Adoption Fund. He said such tools will drive private sector involvement and lower rocket manufacturing costs.

“These moves will further strengthen the mission of Atma Nirbhar Bharat in space,” he added.

 

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