The Tamil Nadu government has launched a ₹10 crore Space Tech fund to support spacetech startups in the state. To further encourage innovation, a prototype development lab and foundation for satellite testing will be set up in Chennai.
This move aims to make Tamil Nadu a hub for space technology and private-sector innovation.
Beyond Tamil Nadu, India's spacetech industry is expanding rapidly. The central government has introduced a ₹1,000 crore venture capital fund, managed by IN-SPACe, to support 40+ startups over the next five years.
Additionally, new policies now allow 100% FDI in certain space-related areas, encouraging private investment.
Leading Indian spacetech startups like Skyroot Aerospace and AgniKul Cosmos are making great strides. Skyroot is preparing for multiple Vikram-1 rocket launches in 2025.
The Union Budget 2025-26 has allocated ₹13,416.20 crore to the Department of Space, reinforcing India's space ambitions. With a goal to reach a $44 billion space economy by 2030, India is making significant investments to compete globally.
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