Indias Space Sector Poised To Reach USD 44 Billion: Union Minister Jitendra Singh
New Delhi: Addressing the ‘Space-Tech for Good Governance’ Conclave organized by the Indian Institute of Democratic Leadership, Union Minister Dr Jitendra Singh projected the space sector to surge to USD 44 billion in the near future, marking a nearly fivefold growth.
According to the Ministry of Science & Technology, Dr Singh pointed to the National Space Innovation and Applications (NSIL) and In-SPACe, which have fostered collaboration between government and non-government entities, driving India’s space economy to USD 8 billion.
Addressing India’s growing stature in global space exploration, Dr Jitendra Singh remarked, “Gone are the days when we used to take the lead from others. Now, India sets the cue for others to follow.”
Dr Jitendra Singh shared a testament to the government’s commitment to space development: India’s space budget has tripled from 5,615 crores in 2013-14 to 13,416 crores in the recent budget, a staggering 138.93 per cent increase. Additionally, ISRO recently celebrated its 100th satellite launch with the NAVIC satellite, a key milestone in India’s space journey.
The number of startups has grown from one to more than 300, positioning India as a key revenue generator in the global space market. India has launched 433 foreign satellites, 396 of which have been launched since 2014 under Prime Minister Modi’s leadership, generating USD 192 million and Euro 272 million in revenue.
Turning the spotlight to future space missions, Dr Singh shared India’s roadmap for space exploration. He announced that trials for the Gaganyaan Mission, India’s first human spaceflight mission, are set to begin with the ROBO Mission by the end of 2025.
Four astronauts have been identified for the mission, with one already invited by the US to visit the International Space Station. By 2035, India aims to establish the Bharat Antariksh Station, and Dr Singh boldly declared India’s goal to send its first astronaut to the Moon by 2040.
Dr Singh has said that India’s Space technology is no longer confined only to rocket launches but is also playing a major role in revolutionising governance by supplementing transparency, grievance redressal, and citizen participation.
He added that in the process, the scope of corrupt practices is reduced, there is more discipline in observing timelines, and there is less so-called red tape. Emphasising Prime Minister Narendra Modi’s leadership, Dr Jitendra Singh explained how space technology is playing a pivotal role in bringing ease of living for common citizens through good governance.
The Minister also emphasised space technology’s role in India’s agricultural sector–one of the major pillars of the economy–stating that it has become an invaluable force multiplier in improving decision-making, weather forecasting, communication, disaster preparedness, early warning systems, urban planning, and security. Dr Jitendra Singh proudly noted that India’s neighbouring countries increasingly depend on India’s satellite systems, further strengthening India’s position as a regional space leader.
