Union Minister of State for Science & Technology, Dr. Jitendra Singh, stated that India’s space economy is expected to expand from $8-9 billion to around $40-45 billion in the next ten years. This growth will be driven by policy reforms, increased private participation, and a rapidly evolving innovation ecosystem. Singh emphasized that the transformation in India’s space sector mirrors a broader shift where science and technology are becoming integral to the national identity.
Singh highlighted that the public discourse on science and technology in India reflects the vision of Prime Minister Narendra Modi. Initiatives like Swachh Bharat, Digital India, Digital Health, Deep Ocean Mission, and Gaganyaan have placed science and innovation at the forefront of India’s development journey. The Minister underscored that India’s advancements in frontier areas such as space, atomic energy, and advanced technologies have bolstered the nation’s global reputation.
The Minister noted the significant impact of reforms in the space sector, pointing out that India now boasts over 400 space startups, a substantial increase from just a few years ago. This surge in startups illustrates the immense potential of India’s space economy. Singh also praised India’s achievements in space missions like Chandrayaan-3 and the upcoming Gaganyaan program, positioning the country as a key player in space exploration globally.
Singh emphasized the role of space technology in enhancing infrastructure planning, project monitoring, and public service delivery. Initiatives such as PM Gati Shakti and urban development programs leverage space technology to improve project implementation and transparency. The Minister highlighted the importance of viewing temporary setbacks in space missions within the broader context of scientific progress and technological evolution.
