According to the union minister of state for the department of space and the department of atomic energy, the space sector is expected to emerge as a major contributor to the future growth of India’s economy.
Replying to supplementary questions during the question hour in the Rajya Sabha, the minister said that revenue generated through the launch of foreign satellites has seen a sharp increase in recent years.
He pointed out that of the 434 foreign satellites launched by the Indian Space Research Organisation (ISRO) since it began offering launch services to overseas customers, as many as 399 were launched after 2014.
Further, as per the minister, opening up the space sector to private participation has been one of the government’s most path-breaking decisions, crediting the centre for ushering in structural reforms. He added that India is rapidly positioning itself as a hub for space manufacturing, space entrepreneurship, and the broader space economy, reflecting the growing maturity and global competitiveness of the country’s space ecosystem.
