According to Jitendra Singh, Minister of State (Independent Charge) for Science and Technology, India’s space economy is currently valued at $8 billion and is estimated to reach $40 billion by 2040. There were only four space startups in the country in 2014, and that number has increased to more than 150 in 2023.
Singh said that India’s rank in the Global Innovation Index has also risen from 81 to 40, which is yet another example of its strong position in the science and technology domain. He added that India’s presidency of G20 is a matter of immense pride and the country has attained remarkable achievements in science and technology.
