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India’s space sector will surge to USD 44 billion in the near future, marking a nearly five-fold growth, Union Minister Jitendra Singh said while addressing the ‘Space-Tech for Good Governance’ Conclave organised by the Indian Institute of Democratic Leadership.
Singh pointed to the National Space Innovation and Applications (NSIL) and In-SPACe, which he said have fostered collaboration between government and non-government entities, driving India’s space economy to USD 8 billion.
“Gone are the days when we used to take the lead from others. Now, India sets the cue for others to follow,” Singh said while highlighting India’s growing stature in global space exploration.
“India’s space budget has tripled from 5,615 crores in 2013-14 to 13,416 crores in the recent budget, a staggering 138.93 percent increase,” he underlined, adding that ISRO recently celebrated its 100th satellite launch with the NAVIC satellite, marking a key milestone in India’s space journey.
“The number of startups has grown from one to more than 300, positioning India as a key revenue generator in the global space market. India has launched 433 foreign satellites, 396 of which have been launched since 2014 under Prime Minister Modi’s leadership, generating USD 192 million and Euro 272 million in revenue,” the minister said.
Shedding light on India’s roadmap for space exploration, Singh announced that trials for the Gaganyaan Mission, India’s first human spaceflight mission, are set to begin with the ROBO Mission by the end of 2025.
Four astronauts have been identified for the mission, with one already invited by the US to visit the International Space Station.
“India’s space technology is no longer confined only to rocket launches but is also playing a major role in revolutionising governance by supplementing transparency, grievance redressal, and citizen participation,” he said, adding that in the process, the scope of corrupt practices is reduced, there is more discipline in observing timelines, and there is less so-called red tape.
The minister also emphasised on space technology’s role in India’s agricultural sector—one of the major pillars of the economy—stating that it has become an invaluable force multiplier in improving decision-making, weather forecasting, communication, disaster preparedness, early warning systems, urban planning, and security.
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