Prime Minister Applauds Digantara's Mission SCOT: A Leap in India's Space Ambitions

Prime Minister Narendra Modi lauds Indian startup Digantara for the success of Mission SCOT, marking a milestone in space situational awareness. The mission strengthens India's national security framework as the government plans a substantial venture capital fund to support space sector growth, aiming to enhance private sector participation.

Prime Minister Narendra Modi has extended accolades to Indian space startup Digantara following the successful completion of its Mission SCOT. In a message shared on the social media platform X, Modi underscored the mission's pivotal role in advancing India's space situational awareness capabilities, a significant stride for the burgeoning space industry.

In response, Digantara expressed heartfelt gratitude to the Prime Minister for his unwavering support of India's private space sector. The startup emphasized that Mission SCOT fortifies national security and elevates India's status as a leader in space domain awareness, highlighting the mission's alignment with strategic national priorities.

According to updates from Digantara, Mission SCOT has established stable communications with its ground station, successfully deployed solar panels, and achieved positive power levels. The immediate focus is to commission the satellite, designed for precise object tracking and imaging in Low Earth Orbit, in preparation for its core mission.

Digantara's team is in the process of fine-tuning Mission SCOT, ensuring operational readiness in the weeks to come. This mission plays a key role in positioning India at the forefront of space technology advancements.

The Union government has sanctioned a Rs 1000 crore Venture Capital Fund to accelerate private sector engagement in the space economy, currently valued at USD 8.4 billion, with an ambitious target to reach USD 44 billion by 2033. The fund, part of broader space sector reforms initiated in 2020, intended to infuse vital risk capital into startups, fostering growth and curbing potential brain drain abroad.

This government-backed fund aims to enhance investor confidence and attract private capital by serving as an Alternative Investment Fund under SEBI regulations, offering early-stage equity support to fledgling companies and positioning them for subsequent private equity investments.

(With inputs from agencies.)