Mon Jun 23 16:55:40 UTC 2025: Here’s a summary of the text and a rewritten version as a news article:

**Summary:**

Minister of Science and Technology Jitendra Singh addressed a press conference highlighting the achievements of India’s science and technology departments. A key focus was on the developing private sector’s role in space and biotechnology. While the government promotes private sector participation, the Minister acknowledged the sector needs time to develop the necessary acumen, particularly in space vehicle manufacturing and scaling biotech start-ups. He addressed concerns about the absence of private companies selected for the Small Satellite Launch Vehicle (SSLV) project, explaining that HAL, a public sector company, won the bid. The Secretary of Biotechnology also noted the longer incubation periods and smaller market equity of biotech start-ups, explaining the current absence of IPOs.

**News Article:**

**India’s Private Sector Needs Time to Shine in Space and Biotech: Minister Singh**

**NEW DELHI, June 23, 2025** – India’s private sector is still in its nascent stages and requires time to develop the expertise needed to excel in high-tech sectors like space and biotechnology, according to Minister of Science and Technology, Dr. Jitendra Singh. Speaking at a press conference today, Dr. Singh emphasized the government’s commitment to fostering private sector involvement but acknowledged existing “gaps” due to historical policy limitations.

“The space sector opened up to the private sector only four to five years ago, and so their capacity building has started only just now,” Dr. Singh explained. “This will take time, but there is now a shift in the policy.”

His comments came in response to a query from *The Hindu* regarding the lack of private sector companies selected to manufacture the Small Satellite Launch Vehicle (SSLV). Last week, Hindustan Aeronautics Limited (HAL), a public sector defense company, secured a deal to build and operate the SSLV. Dr. Singh confirmed that HAL emerged as the highest bidder from a shortlist that included private consortia led by Alpha Design Technologies Ltd. and Bharat Dynamics Ltd.

Dr. Rajesh Gokhale, Secretary, Department of Biotechnology, addressed questions regarding the absence of Indian biotech start-ups launching Initial Public Offerings (IPOs). He pointed to the longer incubation periods and current market equity (around ₹7,000 crore) of these companies as factors contributing to this situation. “The equity of biotechnology start-ups is currently around ₹7,000 crore…they have longer incubation periods.”

The press conference highlighted the achievements of the Departments of Science and Technology, Biotechnology, Council of Scientific and Industrial Research (CSIR), and the Ministry of Earth Sciences.

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