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Govt reforms, private partnerships behind Indian space industry growth in 2024: ISpA

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New Delhi, Dec 24: Reforms made by the government coupled with private partnerships played a crucial role in the growth of India’s space industry in 2024, said the Indian Space Association (ISpA), noting that 2025 is poised to be a year of transformative developments.

Lt. Gen. AK Bhatt (Retd), Director General, ISpA stated that government reforms like the Foreign Direct Investment policy, the Rs 1,000 crore Venture Capitalist fund, and a thriving startup ecosystem, coupled with dynamic public-private collaborations propelled space sector growth.

“The Indian government’s continued focus on strategic policy reforms not only opens the door for significant private sector investment but also ensures that India stays at the forefront of global space innovation. With the continuous support from the government and the push for the public,” Bhatt said.

“The private space sector is witnessing a major growth in the startup ecosystem driven by favourable policy reforms like the liberal FDI policy announced this year,” he stated, adding that this will give the country “access to the latest tech advances and funds” both from Indian and global investors.

The FDI policy in the space sector was launched under the Indian Space Policy 2023 in March. It allows for 100 per cent FDI under the automatic route for satellite components and systems, up to 74 per cent for satellite manufacturing and operation, and 49 per cent for launch vehicles and spaceports.

In October, the Cabinet approved a Rs 1,000 crore VC Fund for the space sector, bolstering startups and private players.

It also approved Phase III of the Space-Based Surveillance (SBS-III) project, targeting the launch of 52 satellites to enhance surveillance. This involved the manufacturing of 31 satellites by the private sector, providing immense opportunities to the industry.

Further, the year also witnessed the laying of the foundation stone for India’s second spaceport in Kulasekharapattinam, Tamil Nadu.

Tata Advanced Systems and Satellogic launched India’s first private sub-metric high-resolution Earth Observation satellite in April.

In May, Agnikul Cosmos made history with the launch of “Agnibaan – SOrTeD,” the world’s first rocket powered by a fully 3D-printed, semi-cryogenic engine.

Funding for Indian space-tech startups reached $76.79 million in 2024, bringing total funding to $463.24 million to date. This includes Pixxel, GalaxEye, Dhruva Space, XDLink Labs, Piersight, and EtherialX.

Notably, this year, ISRO’s commercial arm, NSIL, invited private firms to apply for the end-to-end manufacturing of the Launch Vehicle Mark-III, used in Chandrayaan-2 and Chandrayaan-3.

IN-SPACe, under the Department of Space, also called for initial bids from domestic companies to design, build, and operate Earth Observation satellites. These initiatives mark the Centre’s push to become a key customer for India’s private space sector through a public-private partnership (PPP) model, transforming the space sector, Bhatt said.

Crime

Thane Crime Branch Arrests 25-Year-Old Serial Housebreaker, Cracks 9 Theft Cases In Bhiwandi; Seizes Gold Worth ₹5.98 Lakh

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Thane: The Thane Crime Branch Unit 2 has arrested a 25-year-old habitual thief and cracked nine house break-in cases reported across Bhiwandi.

Gold Worth ₹5.98 Lakh Recovered from Accused Akash Jadhav

According to police sources, 58 grams of gold ornaments worth ₹5.98 lakh were recovered from the accused’s possession. The suspect has been identified as Akash alias Chinya Jadhav, a resident of the Manpada area in Thane.

The investigation began after an FIR was filed at Narpoli police station for a housebreaking incident involving an unidentified suspect. Crime Branch officials, along with local police, launched a joint investigation. CCTV footage and technical intelligence led to the identification of Jadhav.

A trap was laid, and the accused was apprehended. He was produced in court and remanded to police custody for further investigation.

History of Theft: 9 Cases Registered Across Four Police Stations

During questioning, police discovered that Jadhav has a history of theft, with nine cases registered against him. These include five at Narpoli, two at Bhiwandi City, one at Nizampura, and one at Shantinagar police station.

Police confirmed the recovery of stolen gold ornaments during the arrest. Further investigation is underway.

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Maharashtra

Shiv Sena Protests Outside Congress Office Over Ex-Maha CM Prithviraj Chavan’s Controversial Remarks On Malegaon Blast Verdict

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Mumbai: Shiv Sena workers staged a protest outside the Congress office on Saturday, slamming senior party leader and former Maharashtra Chief Minister Prithviraj Chavan over his recent remarks concerning the 2008 Malegaon bomb blast case.

The protest came in response to Chavan’s comments following the acquittal of all seven accused in the Malegaon blast case by a special National Investigation Agency (NIA) court. The court ruled that there was “no reliable and cogent evidence” to support the charges against the accused, which included BJP MP Pragya Singh Thakur and Lt Colonel Prasad Purohit. The blast, which occurred on September 29, 2008, near a mosque in Malegaon, killed six people and injured 101 others. It took nearly 17 years for the final verdict.

While speaking to media after the court’s decision, Chavan distanced himself from the controversial term “saffron terror.” He stated, “Don’t use the term ‘Saffron terrorism’. If you want to describe such acts, use ‘Hindu fundamentalist’ or ‘Hindu terrorism’ instead.” He also highlighted that saffron is a colour of cultural and religious significance, representing the flag of Chhatrapati Shivaji Maharaj, the Warkari sect, and revered saints like Sant Tukaram and Sant Dnyaneshwar.

However, his choice of alternative phrases sparked outrage among right-wing groups and BJP allies. Shiv Sena, a coalition partner in the Maharashtra government, led the protest, condemning Chavan’s statements. Protesters demanded an apology, accusing the Congress of repeatedly targeting Hindu beliefs under the guise of secularism.

Chavan also responded to Union Home Minister Amit Shah’s statement that “no Hindu can ever be a terrorist. “I want to remind Amit Shah that the first terrorist act in independent India was carried out by Nathuram Godse. What was his religion? Terrorism has no religion. This is BJP’s mindset, linking or delinking terrorism based on religious identity.”

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Maharashtra

Mithi River Desilting Scam: ED Raids BMC Engineer, Contractors; Freezes ₹47 Crore, Uncovers Civic Nexus

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Mumbai: The Enforcement Directorate (ED) has frozen assets worth over Rs 47 crore after conducting search operations at eight locations across Mumbai in connection with the ongoing probe into the Rs 65-crore Mithi River desilting scam ,the central agency said on Saturday.

BMC Contractors and Senior Engineer Under Lens

The searches, carried out on July 31 under the Prevention of Money Laundering Act (PMLA), were conducted at premises linked to BMC contractors M/s Acute Designs, M/s Kailash Construction Company, M/s Nikhil Construction Co, M/s N A Construction Pvt Ltd, and M/s J.R.S Infrastructure and and BMC’s Deputy Chief Engineer Prashant Krishna Tayshete.

With the latest action, the total value of proceeds of crime seized and frozen in the case now stands at approximately Rs 49.8 crore.

According to officials, the federal agency’s action led to the seizure of several incriminating documents, digital devices, and records of suspicious immovable property transactions, which are now under scrutiny.

The ED initiated its investigation following a case registered at Azad Maidan Police Station, Mumbai, under various sections of the Indian Penal Code (IPC) against 13 individuals and entities, including those mentioned above, for allegedly causing a wrongful loss of over Rs 65 crore to the Brihanmumbai Municipal Corporation (BMC).

Scam Involved Forged MoUs and Fake NOCs

Evidence gathered during the course of the investigation and search operations has revealed irregularities in the Mithi River desilting contracts. According to the Enforcement Directorate, contractors allegedly colluded with officials of the Brihanmumbai Municipal Corporation’s (BMC) Storm Water Drainage (SWD) department to submit forged documents, including fake Memorandums of Understanding (MoUs) from landowners and No Objection Certificates (NoCs) from gram panchayats, for lands purportedly used for silt dumping.

Machinery Procurement Manipulated for Kickbacks

The probe has further revealed that certain BMC officials misused their official positions for personal financial gain by manipulating the procurement process. Specifically, expensive machinery such as silt pushers and multipurpose amphibious pontoon machines were allegedly included in the 2021–2022 tenders to benefit select contractors.

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