According to Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for Prime Minister’s Office, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, India’s Space economy is expected to increase fivefold from $8 billion to $44 billion in next few years, making value addition in the Indian economy and moving towards Viksit Bharat in 2047.
The minister highlighted the remarkable progress achieved by the Indian space sector, citing the increased space budget as a key factor driving this success. He noted that the space budget has almost tripled—from Rs 56.15 billion in 2013-14 to Rs 134.16 billion in 2025-2026, reflecting the government’s commitment to fostering growth in the space sector.
Dr Singh pointed to 2014 as a pivotal turning point for India’s space journey when the government took an out-of-box decision to “unlock” India’s Space sector, marking a proactive shift in government policies. He credited the enabling environment created by the government, which had thrown open the gates of Sriharikota for the public and opened up the space sector for private sector participation, bringing in foreign direct investment (FDI).
This strategic approach, initiated with the personal intervention of PM, is creating synergy between the government and non-government sectors through frameworks such as the NewSpace India Limited (NSIL) and Indian National Space Promotion and Authorization Centre (IN-SPACe), boosting innovation and opportunities across the space industry. He added that first generation space startups have become successful enterprises.
Dr Singh also spoke about the historic milestones of the Indian Space Research Organisation (ISRO), such as becoming the first nation to successfully reach the South Pole of the Moon. While ISRO’s journey began when other nations had already sent humans to the moon, Dr Jitendra Singh highlighted how India is now leading the way in space exploration with cost-effective and indigenous technologies. Citing the Chandrayaan mission, which was executed at just Rs 6 billion, half the cost of similar missions by other countries, he emphasised India’s rise as a global leader in space, science and technology.
The minister underscored the transformative impact of space technology on various sectors. He drew attention to the Swamitva Scheme, which uses satellite mapping and drone technology for land record mapping, eliminating the reliance on revenue officials.
Dr Jitendra Singh also discussed ISRO’s role in improving communication and connectivity, reinforcing India’s self-reliance in space and satellite technology, and highlighted that 433 foreign satellites had been launched by ISRO which earned 292 million euros and $172 million.
Dr Singh further highlighted India’s efforts to foster an inclusive space ecosystem, with women playing a central role in key space projects like Chandrayaan and Aditya L1. He also spoke about India’s growing prominence on the global stage, citing recent developments such as the US’s invitation to send an Indian astronaut to the International Space Station and other future collaborations between India and international space agencies.
In closing, Dr Jitendra Singh affirmed that India is committed to leading the global space race with entirely indigenously developed technologies that are cost-effective, futuristic, and designed for sustainable growth. He concluded by reiterating that India’s space sector will not only follow the global path but will also carve out its own leadership role on the world stage, marking a new era in space exploration.
