Union Minister Jitendra Singh laid out the governments bold and strategic vision for Indias science and technology sectors and said that Modi 3.0 science push is aimed at realising Viksit Bharat.
From launching a ?1,000 crore venture capital fund to support Space StartUps to introducing the Bio E3 policy aimed at creating a bioeconomy, the Modi governments major initiatives in the first 100 days of its third term signify its commitment to advancing Indias role on the global innovation stage, the Minister said.
The Minister highlighted that these initiatives not only bolster Indias scientific prowess but also contribute to a sustainable, self-reliant economy that can withstand global shifts in industry and resources.
Jitendra Singh opened by emphasizing the speed at which India has embraced major reforms in science and technology.
In the first 100 days of Prime Minister Modis third term, we have laid the groundwork for transformative changes in science, technology, and innovation, he said.
He pointed out that the Prime Ministers vision prioritises long-term, out-of-the-box initiatives to ensure Indias leadership in critical domains like space exploration, biotechnology, and meteorology.
One of the major highlights of Jitendra Singhs interaction was the announcement of a ?1,000 crore venture capital fund exclusively for the space sector. This fund, approved by the cabinet, is part of a broader plan to leverage Indias growing base of nearly 300 space startups. In the span of just a few years, India has seen a remarkable shift in its space ecosystem, following the governments decision to open the sector to private players.
According to Jitendra Singh, this decision has helped unlock Indias potential, allowing it to grow from a single-digit startup presence to an ecosystem with hundreds of space tech companies today.
Indias space economy will play a critical role in our countrys growth, Jitendra Singh noted, referencing the global recognition India has garnered from achievements like the Chandrayaan-3 mission.
He further highlighted the Gaganyaan mission, Indias first human crewed space mission has been scheduled, which will include a female robot test flight as a final dress rehearsal before sending human astronauts into space.
Our advancements are not just about joining the ranks of other spacefaring nations, but also about leading with innovation, precision, and reliability, he added.
With the Bio E3 policy, Jitendra Singh underscored a vision for a bio-driven future, asserting that the next industrial revolution will stem from bioeconomy initiatives rather than traditional manufacturing.
The policy, which covers Biotechnology for Environment, Economy, and Employment, is designed to create self-sufficiency in resources while reducing dependency on imports.
A key objective, he explained, is the shift from petroleum-based resources to biofuel alternatives, enabling waste-to-fuel transformations and other sustainable practices.
Our natural resources, including rich bioresources along the Himalayas and a 7,500-Kilometre coastline, position us uniquely to drive this revolution, Jitendra Singh said.
He said: Were tapping into the biotechnology potential of the regions, ensuring economic growth that is both inclusive and environmentally sustainable.
Jitendra Singh also announced significant updates on Mission Mausam, an initiative launched within the first 100 days of Modis third term, aimed at enhancing the accuracy of meteorological forecasts.
The mission, which integrates space and IT technologies, allows India to provide real-time, actionable weather forecasts, not only for India but also for neighbouring countries, including Bangladesh, Nepal, and Sri Lanka.
