New Delhi, Oct 24 (PTI) Union Home Minister Amit Shah on Thursday said the venture capital fund the Union Cabinet approved would fortify India’s leadership in the space sector through the creation of a multiplier effect by attracting new investments while spurring the growth of existing companies.
A meeting of the Union Cabinet, chaired by Prime Minister Narendra Modi, approved setting up of a Rs 1,000-crore venture capital fund dedicated to the space sector under the aegis of IN-SPACe to help start-ups.
“PM @narendramodi ji today infused new force into the growth of our space sector by deciding to set up a Rs 1,000-crore venture capital fund in the Union Cabinet. The fund, under the aegis of IN-SPACe, will fortify Bharat’s leadership in the space sector by creating a multiplier effect by attracting new investments while spurring the growth of the existing companies. Gratitude to Modi ji for the visionary decision,” Shah said in a post on X. PTI ACB SZM
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