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

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.
Maharashtra
New India Cooperative Bank embezzlement accused’s properties attached

Mumbai: Mumbai Economic Branch (EOW) has also started property seizure proceedings in the case of embezzlement of crores of rupees from New India Cooperative Bank. EOW said that after identifying the properties obtained from the embezzled amount, it has been attached and seized. 5 accused have been arrested in this case and 21 immovable properties of these accused have been found, which have been allowed to be confiscated.
This is the first action under 107 BNSS in Mumbai city in which the property of the accused has been seized. Mumbai AOW said that the amount recovered from the seized properties will also be estimated. After the bank scam in Mumbai, EOW has taken major action and details of other properties of the accused are also being investigated.
Crime
Mumbai Five members of Lawrence Bishnoi gang arrested, Mumbai Crime Branch gives a shock to Bishnoi gang

Mumbai: Mumbai Crime Branch has claimed to have arrested five shooters of gangster Lawrence Bishnoi gang in a major operation. 5 revolvers and 21 live cartridges have been recovered from the possession of these shooters. Mumbai Police is also interrogating these shooters. Police arrested the attackers before they could execute the incident and averted the incident. Mumbai Crime Branch has arrested these five from Andheri area. They had come here with the intention of carrying out a major vandalism incident, but the police foiled the incident before that.
The arrested accused include Vikas Thakur, Samit Dilawar, Devendra Rupesh Saxena, Shreya Suresh Yadav, Vivek Gupta. Vikas Thakur is a resident of Versova Andheri, Samit Mukesh Kumar Dilawar is a resident of Sonipat, Haryana, Devendra Rupesh Saxena is a resident of Madhya Pradesh, Shreya Suresh Yadav is a resident of Jagdishpur, Bihar and Vivek Kumar Gupta is a resident of Rampur, Rajasthan.
Weapons have been recovered from their possession and the Crime Branch has registered a case against them under Section 3 and 25 of the BNS, Section 55 and 61 (2) and Maharashtra Police Act. The Crime Branch is investigating where the accused brought the weapons from.
After the shooting of Salman Khan, Lawrence Bishnoi gang is trying to become active in Mumbai, but due to the strict action of Mumbai Crime Branch, the back of the gang has been broken and now the Crime Branch has given a big blow to the Lawrence Bishnoi gang and arrested five of its members. The Crime Branch is further investigating the matter.
Maharashtra
It is unconstitutional to deprive SP MLA Raees Sheikh of his right to handle religious affairs under Article 26 of the Constitution

Mumbai: Maharashtra MLA Raees Sheikh has opposed the introduction of the Wakf Bill in the Lok Sabha. Raees Sheikh has strongly criticized the BJP for creating a false narrative and called the bill a misconception and unconstitutional bill which is harmful for the poor of the society.
Shaikh further said that Article 26 of the Constitution guarantees freedom to run religious institutions. It is unconstitutional to take away the right of a person to run his institution under Article 26 of the Constitution. MLA Shaikh said that this move is against the constitutional guarantee of dealing with religious matters.
Shaikh said that the BJP government is showing the UPA government that it is doing politics of appeasement of a particular community, while the BJP-led government is not doing so. This is an attempt to spread a lie that allows the community to seize any land under Waqf or claim it to be Waqf. The Waqf Board is not a private organisation of the Muslim community but a statutory body established under the Waqf Act. In the process of declaring a property as Waqf, a government surveyor conducts a survey and officially declares the property as Waqf. Sheikh remarked that it is completely wrong to present the idea that Muslims can arbitrarily declare any property as Waqf.
Shaikh further said that he strongly opposes the false image being created by the government and the government has not considered the suggestions given by Muslims or the opposition. All Waqf governing boards and trusts have been given the option to exit the Waqf framework. This has weakened the system. “This is an unimaginable and unimaginable bill that only harms the poor of the society,” Sheikh said.
He further said that some provisions, such as the condition that the person making the donation should have been a Muslim for five years, are strange. Earlier encroachment on wakf property was a non-bailable offence, but now it has been made a criminal offence
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