Indian space economy to reach $44 bn: Singh

New Delhi

Union Minister of State for Science and Technology, Dr. Jitendra Singh, announced on Tuesday that India’s space economy is expected to reach $44 billion in the next decade. Speaking on Sansad TV, he highlighted India’s transformation in space exploration, starting with the private sector's involvement. Singh stated that the current $8 billion space economy is poised for significant growth, with milestones such as the Gaganyaan Mission, Chandrayaan-4, Shukrayaan, and the Indian Space Station leading the way.

The Minister praised the role of startups and foreign investment in driving innovation, pointing to advancements like SPADeX, which enables docking capabilities, and the Vyom Mitra robo mission as key technological breakthroughs.

Singh also discussed India’s progress in biopharma, emphasizing the potential of the country’s bio-economy. India’s bio-economy policy is poised to lead in areas like manufacturing and recycling, positioning the country as a global innovation hub. He further praised citizen-centric governance initiatives like Mission Karmayogi, which aims to build a more efficient bureaucracy.

The Minister underscored India’s commitment to climate action, preventive healthcare, and sustainability, stating that under Prime Minister Modi’s leadership, India has become a global leader in innovation, technology, and governance.