Indian Space Economy Projected to Reach $44 Billion in the Next Decade: Jitendra Singh
Union Minister of State (independent charge) for Science and Technology, Dr. Jitendra Singh projected that the Indian space economy is set to grow to $44 billion in the next 10 years.
New Delhi: Union Minister of State (independent charge) for Science and Technology, Dr. Jitendra Singh projected that the Indian space economy is set to grow to $44 billion in the next 10 years.
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Speaking at an exclusive programme on Sansad TV, Singh outlined the rapid advancements in India’s space sector, which began with the opening of the space industry to private investments. He noted that the space economy has already grown to $8 billion and is on track to reach $44 billion by 2030.
Key Milestones for India’s Space Program
Singh highlighted major milestones, such as the indigenous Gaganyaan Mission, the upcoming Chandrayaan-4 (2027), Shukrayaan (2028), and the Indian Space Station (2030), as indicators of India’s growing dominance in space exploration.
The Minister also praised startups and foreign direct investment (FDI) for fueling innovation in the sector, with developments like SPADeX enabling docking capabilities. He pointed out the Vyom Mitra robo mission as a precursor to human space exploration.
India’s Bioeconomy and Governance Initiatives
In addition to space, Dr. Jitendra Singh spoke on India’s biopharma sector, emphasizing the role of biomanufacturing and bio-foundries in driving the Fourth Industrial Revolution. He revealed that India is one of the first countries to have a dedicated bio-economy policy, positioning the nation as a global leader in innovation, recycling, and bio-manufacturing.
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Singh also highlighted the shift towards citizen-centric governance with initiatives like Mission Karmayogi, aimed at rethinking bureaucracy through role-based capacity building. Digital innovations such as face-recognition-enabled digital life certificates and dynamic online modules have eased citizens’ lives, he added.
India’s Leadership in Global Technology and Sustainability
The Minister reiterated India’s commitment to addressing climate change and the nation’s leadership role in preventive healthcare. He stressed India’s collaborative efforts on the world stage, driven by transparency, innovation, and a conducive environment under Prime Minister Modi’s leadership. Singh concluded that India has solidified its position as a global leader in technology, sustainability, and governance.
