India’s space economy can expand to $45 billion over next 7-8 years: Jitendra Singh
India’s space economy, currently close to $9 billion, is expected to expand to about $45 billion over the next seven to eight years, Union Minister Jitendra Singh said on Sunday.
The minister also stated that India’s space startup ecosystem has grown from a single-digit number of startups a few years ago to around 400 today.
“The Prime Minister Narendra Modi Government has opened strategic sectors such as space and parts of the nuclear ecosystem to private participation, ending decades of restricted access,” Singh said.
He made these comments while reflecting on the last 12 years of the Modi Government during an interaction with the media.
“The change of mindset that has happened in the last 12 years under Prime Minister Modi is one of the biggest hallmarks. The kind of aspirational surge that has happened, ‘I can also do it’, was not there earlier,” the minister said.
He added that this shift was visible in the growing number of civil services toppers emerging from small towns and non-metropolitan backgrounds, reflecting the democratisation of opportunity through technology, transparency and fair competition.
Singh also noted that India’s successful landing near the Moon’s south pole had strengthened public interest in science, while earlier discoveries by Indian lunar missions had helped identify evidence of water molecules on the Moon.
“India’s development journey would require deeper public-private collaboration, stronger participation of women and youth, continued expansion of emerging sectors such as space, nuclear energy and quantum technologies, and adherence to global standards of performance and innovation,” the minister said.
