Gen Z engineers driving R&D, innovation in space sector: Minister

Gen Z engineers, designers, coders, and scientists are driving research and development and innovation in the space sector, said Jitendra Singh, Union Minister of State for the Department of Space, in the Parliament on Thursday.

In a written reply in the Rajya Sabha, Singh lauded the space sector reforms of 2020, which modernised India’s space legislation and governance architecture, enabling a more innovation-driven space ecosystem and rapid growth in the sector.

“Gen Z engineers, designers, coders, and scientists are driving research and development, innovation in the space sector, creating new solutions with fresh ideas, advanced skills, and a strong focus on digital transformation,” Singh said.

“The space sector reforms announced by the government of India in June 2020 have significantly boosted the country’s space startups, enabling rapid growth over the past four years,” he added.

The Minister noted that the government considers India’s space sector as an increasingly attractive destination for global investors.

Further, to increase India’s share in the global space economy, the government has liberalised the space sector to carry out end-to-end space activities by domestic as well as global players.

A liberalised and investor-friendly revised FDI Policy was also announced in February 2024, for the space sector to accelerate and promote International Investments, Technology Transfers, and Collaborative Research Opportunities, Singh said.

“As per the amended FDI policy, up to 100 per cent FDI is allowed in the space sector. There are sectoral caps with a new provision of automatic route and administrative route. A total of 382 start-ups in space technology are registered with DPIIT as per the Startups India portal,” he added.