India’s Space Sector Set for USD 44 Billion Boom: Dr Jitendra Singh

Union Minister Dr. Jitendra Singh has projected a significant expansion of India's space sector, estimating its growth to USD 44 billion shortly, nearly five times its current value. Speaking at the 'Space-Tech for Good Governance' Conclave organized by the Indian Institute of Democratic Leadership, Dr. Singh attributed this surge to increased private sector participation and government initiatives.

According to the Ministry of Science & Technology, the establishment of the National Space Innovation and Applications (NSIL) and the Indian National Space Promotion and Authorization Center (In-SPACe) has fostered collaborations between government and private entities, propelling India's space economy to USD 8 billion.

Highlighting India’s growing influence in the global space arena, Dr. Singh stated, "Gone are the days when we used to take the lead from others. Now, India sets the cue for others to follow."

Underlining the government's commitment to space exploration, Dr. Singh revealed that India's space budget has seen a sharp increase—from ₹5,615 crore in 2013-14 to ₹13,416 crore in the latest budget—marking a 138.93% rise. Additionally, ISRO recently celebrated its 100th satellite launch with the NAVIC satellite, a major milestone in India's space journey.

The minister also noted a significant rise in space startups, from just one to over 300, making India a key revenue contributor to the global space market. India has successfully launched 433 foreign satellites, with 396 of them placed in orbit since 2014 under Prime Minister Narendra Modi’s leadership, generating revenue of USD 192 million and EUR 272 million.

Outlining India's ambitious roadmap for space exploration, Dr. Singh announced that trials for the Gaganyaan Mission, India's first human spaceflight program, will commence with the ROBO Mission by the end of 2025. Four astronauts have been selected for the mission, with one already invited by the United States to visit the International Space Station. India is also aiming to establish the Bharat Antariksh Station by 2035 and send its first astronaut to the Moon by 2040.

Dr. Singh emphasized that space technology is no longer limited to rocket launches but is now playing a critical role in enhancing governance by promoting transparency, grievance redressal, and citizen participation.

Recognizing Prime Minister Modi’s leadership, he highlighted the role of space technology in "bringing ease of living for common citizens through good governance."

Dr. Singh further underscored space technology's impact on India's agricultural sector, stating that it has become an “invaluable force multiplier” in areas such as decision-making, weather forecasting, communication, disaster preparedness, early warning systems, urban planning, and national security.