Space industry welcomes Cabinet approval of Rs 1,000 crore venture fund

The Indian space industry has reacted with enthusiasm to the Union Cabinet's approval of a Rs 1,000 crore venture capital fund for the space sector.

The space sector, in particular, is poised for exponential growth, and this new fund reflects the government's commitment to creating more opportunities for youth and entrepreneurs in this high-tech field.

The initiative aims to support 30-40 startups initially, focusing on taking innovative concepts from ideation to commercialisation.