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Cabinet approves Rs 1,000 crore venture capital fund for space sector startups

Established as part of the 2020 space sector reforms, IN-SPACe was created by the Government of India to facilitate private sector participation in space activities.

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The Union Cabinet on Thursday approved setting up of a Rs 1,000 crore venture capital fund to help space sector startups, Union Minister Ashwini Vaishnaw said.

The fund is expected to support approximately 40 startups in the sector and will accelerate the private space industry’s growth.

It will also push advancements in space technology and strengthen India’s leadership through private-sector participation, the government said.

The capital infusion will also create a multiplier effect by attracting additional funding for later-stage development.

In a post on X, PM Modi said: “Excellent news for the space sector! The Cabinet’s decision on establishing a Venture Capital Fund dedicated to the space sector will have a phenomenal impact on the youth. It will give opportunities to several innovative minds and add momentum to our space programme.”

Union Home Minister Amit Shah said PM Modi has infused new force into the growth of the Indian 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, he said in a post on X.

As per the government’s plan, the proposed Rs 1,000 crore venture capital fund is expected to have a deployment period of up to five years from the start of the fund operations.

It is anticipated that the average deployment amount could range from Rs 150-250 crore per year, depending on the investment opportunities and fund requirements.

The proposed break-up for the Rs 1,000 crore fund’s deployment on a financial year basis such as Rs 150 crore for 2025-26, Rs 250 crore for each financial year starting from 2026 till 2029, and Rs 100 crore for 2029-30.

Established as part of the 2020 space sector reforms, IN-SPACe was created by the Government of India to facilitate private sector participation in space activities.

The proposed Rs1,000 crore venture capital fund under IN-SPACe aims to support the growth of India’s space economy, which is currently valued at S8.4 billion, with a target to reach $44 billion by 2033.

This initiative is essential to address the critical need for risk capital, given the hesitation of traditional lenders to fund startups in the high-tech space sector.

Furthermore, as nearly 250 space startups have emerged across the value chain, timely financial support is crucial to ensure their growth and prevent talent loss overseas. The proposed government-backed fund is expected to enhance investor confidence, attract private capital, and demonstrate the government’s commitment to advancing space reforms.

Additionally, it will function as an “Alternative Investment Fund” under SEBI regulations, providing early-stage equity to startups and enabling them to scale for further private equity investments.

Bollywood news

KL Rahul, Athiya Shetty share first pic of their baby, name her Evaarah

The couple, celebrating Rahul’s birthday, introduced their baby girl named Evaarah, a name that encapsulates their joy and love.

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KL Rahul, Athiya Shetty share first pic of their baby, name her Evaarah

KL Rahul and Athiya Shetty have shared the enchanting news of their daughter’s arrival, unveiling her name to the world for the very first time. The couple, celebrating Rahul’s birthday, introduced their baby girl named Evaarah, a name that encapsulates their joy and love.

Introducing Evaarah: A special moment for the new family

In a touching moment filled with pride and emotion, actor Athiya Shetty and cricketer KL Rahul shared the first picture of their little one. The heartfelt reveal quickly captured the affection of fans and followers, who flooded the couple with warm wishes and congratulations. Athiya, in her post, expressed her profound love, writing: “Our baby girl, our everything. 🪷 Evaarah/ इवारा ~ Gift of God.”

Earlier in March, Athiya had joyfully announced her pregnancy with a charming Instagram illustration of two swans accompanied by the message, “Blessed with a baby girl.”

The journey to parenthood

The couple exchanged vows in a private ceremony on January 23, 2023, at Suniel Shetty’s picturesque farmhouse in Khandala. A few months later, in November 2024, they marked another milestone in their lives with an adorable announcement about their impending parenthood, sharing a sweet post that read, “Our beautiful blessing is coming soon. 2025,” along with emojis of tiny feet.

https://www.instagram.com/p/DIlMd2UTkhP/?utm_source=ig_web_button_share_sheet

Suniel Shetty’s heartfelt reflection as a grandfather

Suniel Shetty, Athiya’s father, expressed his joy as a newly minted grandfather in a heartfelt LinkedIn post. He articulated the paradox of life, emphasising how true contentment often lies in the simplest moments. He reflected on his journey, stating, “It’s funny how life works. You spend years chasing achievements, but real happiness stems from the simplest of things.”

He shared the indescribable joy of holding his granddaughter, acknowledging how those cherished moments eclipse all worldly pursuits. His reflections on family and legacy poignantly captured the essence of life’s most rewarding experiences.

Warm wishes from the celebrities’ circle

The joyous news has evoked an outpouring of affection from fellow celebrities and friends. Anushka Sharma, a close friend of Athiya, celebrated the occasion with a heart emoji on her post, while Sobhita Dhulipala remarked, “This is everything.” Samantha Ruth Prabhu also joined in, leaving a flurry of heart emojis to shower love on the precious new addition to the Shetty-Rahul family.

As KL Rahul and Athiya Shetty embark on this beautiful journey of parenthood, they are surrounded by love and support from their family, friends, and countless admirers.

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India News

Stalin reminds PM Modi’s statements as Gujarat CM after his crying for funds remark

During the event, Stalin inaugurated over 6,700 completed projects worth ₹1,166 crore in Tiruvallur, laid foundations for 7,300 new initiatives, and distributed welfare benefits to 2.02 lakh residents.

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Tamil Nadu Chief Minister M.K. Stalin on Friday took aim at Prime Minister Narendra Modi during a government event in Ponneri, Tiruvallur district, invoking Modi’s own words as Gujarat’s Chief Minister to counter recent remarks about Tamil Nadu’s demands for funds.

Addressing a gathering, Stalin refuted Modi’s claim from a Rameswaram visit that Tamil Nadu leaders were “crying” for central funds regardless of allocations.

“With utmost respect, I remind the Prime Minister of his own stance as Gujarat CM, when he said states aren’t beggars pleading for Union handouts,” Stalin said.

He recalled Modi’s criticism of the Centre’s partisan fund allocations and accusations of Governors running “parallel governments” in opposition-ruled states. “When Tamil Nadu seeks its rightful share, how is it ‘crying’? I’m asserting our state’s rights, not groveling. I learned this from our leader Kalaignar [Karunanidhi],” Stalin asserted.

Minister S.M. Nasar, MPs S. Jagathrakshakan and Sasikanth Senthil, legislators T.J. Govindarajan, Durai Chandrasekar, S. Chandran, V.G. Raajendran, A. Krishnaswamy, K. Ganapathy, S. Sudharsanam, Collector M. Prathap, and senior officials attended the event.

Stalin also challenged Shah’s recent Chennai statement that Tamil Nadu’s demands were “diversionary tactics.” He posed pointed questions to Union Home Minister Amit Shah, “Can you exempt Tamil Nadu from NEET? Guarantee no Hindi imposition? Ensure our representation isn’t reduced post-delimitation? Specify the funds allocated to our state?”

Stalin emphasised that Tamil Nadu’s fight is for all states’ rights, citing the DMK’s landmark Supreme Court victory against Governor R.N. Ravi’s delay in approving Bills. “This historic ruling shows we act when the Centre fails,” he said.

Highlighting national awareness of Tamil Nadu’s struggle, Stalin dismissed Shah’s accusations of diversion, urging, “If our demands are distractions, why haven’t you addressed them clearly?” He underscored the state’s resolve to protect its interests, rooted in principles of federalism and justice championed by DMK’s legacy.

During the event, Stalin inaugurated over 6,700 completed projects worth ₹1,166 crore in Tiruvallur, laid foundations for 7,300 new initiatives, and distributed welfare benefits to 2.02 lakh residents.

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India News

22 Maoists surrender in Sukma, cite disillusionment with ideology and tribal atrocities

In a major success for anti-Maoist operations, 22 Maoists, including key commanders, surrendered in Sukma, Chhattisgarh, influenced by state development schemes and new rehabilitation policy.

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Maoists

In a significant development in Chhattisgarh’s Sukma district, 22 Maoists, including nine women, laid down arms before security forces, expressing disillusionment with the Maoist ideology and its violent impact on tribal communities.

Among the surrendered, 12 were carrying a combined bounty of Rs 40.5 lakh. The surrender took place in the presence of senior officials from the police and Central Reserve Police Force (CRPF). Sukma Superintendent of Police Kiran Chavan confirmed the development, highlighting the role of various government schemes and the updated rehabilitation policy in encouraging the cadres to give up arms.

Key Maoist figures among those surrendered

Those who surrendered include Muchaki Joga (33), deputy commander in the People’s Liberation Guerrilla Army (PLGA) company no. 1 under the Maad division, and his wife Muchaki Jogi (28), a member of the same squad. Both carried a bounty of Rs 8 lakh each.

Other notable names are Kikid Deve (30) and Manoj alias Dudhi Budhra (28), area committee members of the Maoists, each carrying a reward of Rs 5 lakh. Additionally, seven individuals carried a bounty of Rs 2 lakh each, while one was wanted with a reward of Rs 50,000.

According to officials, many of these Maoists were involved in several violent attacks against security personnel in the region.

Development schemes helped influence decision

Police officials said the surrender was influenced by the Chhattisgarh government’s ‘Niyad Nellanar’ (Your Good Village) scheme, which focuses on development in remote areas, as well as the newly introduced surrender and rehabilitation policy aimed at providing assistance to former Maoists.

All the surrendered individuals received an initial assistance of Rs 50,000 and will be rehabilitated under the government’s policy. Their surrender was made possible through coordinated efforts of the district police, District Reserve Guard (DRG), CRPF, and its elite CoBRA unit.

Growing trend of surrenders

The recent surrender is part of a larger trend. As per police records, 792 Maoists surrendered across the Bastar region, including Sukma, last year alone. This reflects a growing impact of state-led initiatives to counter insurgency through development and reintegration.

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