Excelsior Correspondent
NEW DELHI, Oct 27: In a forward-looking discussion during an exclusive interview to a national media house, Union Minister Dr. Jitendra Singh laid out the Government’s bold and strategic vision for India’s science and technology sectors and said that Modi 3.0 “science push” is aimed at realising “Viksit Bharat”.
From launching a Rs 1,000 crore venture capital fund to support Space StartUps to introducing the Bio E3 policy aimed at creating a bioeconomy, the Modi Government’s major initiatives in the first 100 days of its third term signify its commitment to advancing India’s role on the global innovation stage, the Minister said..
The Minister highlighted that these initiatives not only bolster India’s scientific prowess but also contribute to a sustainable, self-reliant economy that can withstand global shifts in industry and resources.
Dr. Jitendra Singh opened by emphasising the speed at which India has embraced major reforms in science and technology. “In the first 100 days of Prime Minister Modi’s third term, we have laid the groundwork for transformative changes in science, technology, and innovation,” he said. He pointed out that the Prime Minister’s vision prioritises long-term, out-of-the-box initiatives to ensure India’s leadership in critical domains like space exploration, biotechnology, and meteorology.
One of the major highlights of Dr. Jitendra Singh’s interaction was the announcement of a Rs 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 India’s 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 Government’s decision to open the sector to private players.
According to Dr. Jitendra Singh, this decision has helped unlock India’s potential, allowing it to grow from a single-digit startup presence to an ecosystem with hundreds of space tech companies today.
With the Bio E3 policy, Dr. 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,” he added.
“Our natural resources, including rich bioresources along the Himalayas and a 7,500-Kilometre coastline, position us uniquely to drive this revolution,” Dr. Jitendra Singh said. “We’re tapping into the biotechnology potential of the regions, ensuring economic growth that is both inclusive and environmentally sustainable,” he added.
Dr. Jitendra Singh also announced significant updates on Mission Mausam, an initiative launched within the first 100 days of Modi’s 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.
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