Space economy to reach $ 44 billion in next decade, says Singh

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, the space economy has grown to $ 8 billion and is projected to touch $ 44 billion in the next decade.

Milestones like the indigenous Gaganyaan Mission, the upcoming Chandrayaan-4 (2027), Shukrayaan (2028), and the Indian Space Station (2030) showcase India’s robust trajectory. Singh credited the government for these reforms, which opened the sector to private investment.

He lauded start-ups and foreign direct investment (FDI) for fuelling innovation, with missions like SPADEX enabling docking capabilities, marking a leap in technological advancement. The Vyom Mitra robo mission was highlighted as a precursor to human space exploration.