(MENAFN– IANS) New Delhi, Oct 27 (IANS) The major initiatives undertaken in the science and technology sectors by the Prime Minister Narendra Modi-led government is aimed at realising “Viksit Bharat”, said Union Minister Dr. Jitendra Singh on Sunday.
Speaking to the media, Singh laid out the government’s bold and strategic “science push” which includes the launching of a Rs 1,000 crore venture capital fund to support space startups to introduce the Bio E3 policy aimed at creating a bioeconomy.
“The Modi government’s major initiatives in the first 100 days of its third term signify its commitment to advancing India’s role on the global innovation stage,” the Minister said.
Besides bolstering India’s scientific prowess, the initiatives also contribute to a sustainable, self-reliant economy that can withstand global shifts in industry and resources, Singh said. He said the initiatives will also ensure India’s leadership in critical domains like space exploration, biotechnology, and meteorology.
He explained that the venture capital fund exclusive for the space sector is part of a broader plan to leverage India’s growing base of nearly 300 space startups.
This decision to open the sector to private players has brought in“a remarkable shift in its space ecosystem”, Singh said. From just one startup, the policy helped develop“an ecosystem with hundreds of space tech companies today”, he noted.
“India’s space economy will play a critical role in our country’s growth,” Singh noted, referring to the global recognition India has garnered from achievements like the Chandrayaan-3 mission.
Highlighting the upcoming Gaganyaan mission — India’s first human crewed space mission — expected to be launched in 2026, the Minister emphasised that the space advancements are aimed at leading“with innovation, precision, and reliability”.
Similarly, with the Bio E3 policy, Singh underscored a vision for a“bio-driven” future, asserting that the next industrial revolution will stem from bioeconomy initiatives rather than traditional manufacturing.
Singh noted that the government is“tapping into the biotechnology potential” to boost economic growth that is“inclusive and environmentally sustainable.”
Singh also announced significant updates on Mission Mausam, an initiative launched within the first 100 days of Modi’s third term, aimed at enhancing the accuracy of meteorological forecasts.
India’s journey toward a self-reliant, scientifically advanced future is being mapped with each new policy, fund, and partnership, Singh said.
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