Indian private sector still in a ‘developing’ stage: Minister

• India’s private sector in science, space, and biotech is still in a growing phase, and needs time to develop the capacity and business acumen to manufacture complex systems like space launch vehicles or scale biotech innovations to public listing levels.

• Although the space sector was opened to private participation four to five years ago, no private company has yet been selected to manufacture the Small Satellite Launch Vehicle (SSLV).

• Instead, the public sector company HAL (Hindustan Aeronautics Ltd.) won the ₹511 crore deal through a Transfer of Technology (ToT) agreement with ISRO.

• Alpha Design Technologies (Adani group) with Agnikul Cosmos & Walchand Industries

• Bharat Dynamics Ltd. with Skyroot Aerospace, Keltron & BHEL

• The government clarified that while interest from private players is growing, they lack maturity and readiness for such complex projects—something that will improve with time and policy support.

• Biotechnology start-ups in India have shown strong potential but still have long incubation cycles and limited market equity (~₹7,000 crore currently), which affects their chances of entering public markets (IPO level).

• The government’s BIRAC programme has supported biotech start-ups since 2012, but public listing is yet to be seen as a near-term outcome.

• Officials attributed slow private growth to previous policies that did not support private sector engagement in science and technology.

• However, they claim a significant shift in policy under the current government, especially in opening up space and defence technologies to private innovation and investment.

• The current focus is on capacity building, technology transfers, and creating a supportive ecosystem that will enable greater private participation in future scientific endeavours.