India's push for home-grown satellite constellation gets 30 aspirants

Quick Summary:

The government plans to loan up to 3.5 billion to the winner, with private companies expected to cover the remaining costs, according to a source familiar with the matter.

IN-SPACe's eligibility criteria include applicants raising or investing at least 850 million rupees ($10 million) in space-related activities, having a valuation of 8.5 billion rupees, or a turnover of 2 billion rupees in the past three years.

The applicants for IN-SPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.

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Category: EconomyBusiness

Markets: SingaporeIndia

Topics: Space India Private Data Goenka In-space Companies Billion 2024 Indian Satellite

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-12-24 @ 17:18:03 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 507 words

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Sentences: 21 lines

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