India

Indian space economy projected to touch $44 bn in next decade: Jitendra Singh

Darpan News Desk IANS, 21 Jan, 2025 01:15 PM

New Delhi, Jan 21 (IANS) In the next 10 years, the Indian space economy is projected to touch $44 billion, said Union Minister of State (independent charge) for Science and Technology Dr. Jitendra Singh on Tuesday.

Speaking at an exclusive programme on Sansad TV, the MoS highlighted India's transformation in the space sector, which began with the opening of the sector to private investment.said Union Minister of State (independent charge) for Science and Technology Dr. Jitendra Singh on Tuesday. Speaking at an exclusive programme on Sansad TV,

“The space economy has grown to $8 billion and is projected to touch $44 billion in the next decade,” Singh said. “Milestones like the indigenous Gaganyaan Mission, the upcoming Chandrayaan-4 (2027), Shukrayaan (2028), and the Indian Space Station (2030) showcase India’s robust trajectory,” he added.

The Minister also lauded startups and FDI for fuelling innovation, with missions like SPADeX enabling docking capabilities, marking a leap in technological advancement. He highlighted the Vyom Mitra robo mission as a precursor to human space exploration.

The Minister also spoke on India’s biopharma sector, and the nation’s strides in governance and climate action. He claimed that biomanufacturing and bio-foundries would foster the Fourth Industrial revolution.

“India’s bio-economy, backed by abundant resources from the Himalayas to its shores, is the growth driver. As one of the first nations with a dedicated bio-economy policy, India is set to lead global innovation in recycling, manufacturing, and startups in this sector,” said Singh, adding that “India is one pioneer country who has prepared its BIO-E3 policy”.

Singh also emphasised the shift to citizen-centric governance with initiatives like Mission Karmayogi that are redefining bureaucracy by prioritising role-based capacity building. “Digital innovations like the face-recognition-enabled digital life certificate and dynamic online modules have eased citizens’ lives,” he said.

Singh reiterated India's commitment to combating climate change and addressing its heterogeneous climatic challenges, while stressing India's leadership in preventive healthcare, meeting global standards in addressing health and environmental concerns.

“India has emerged as a reliable partner on the world stage, driven by collaborative efforts, transparency, and innovation. The conducive environment created under PM Modi’s leadership has made the nation a hub for startups, businesses, and industries, cementing its position as a leader in technology, sustainability, and governance,” the Minister said.

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