New Delhi (India), June 14: Union Minister of State (Independent Charge), Dr Jitendra Singh, said India’s space economy is poised to grow from the current USD 8-9 billion to nearly USD 40-45 billion over the next decade, driven by policy reforms, growing private participation and a rapidly expanding innovation ecosystem.
The major firms in the spacetech sector are Skyroot Aerospace and Agnikul Cosmos, Earth observation and analytics companies such as Pixxel and SatSure, and legacy aerospace manufacturers including Data Patterns and Larsen & Toubro (L&T).
Addressing a press conference in national capital, Dr Jitendra Singh said programmes such as Swachh Bharat, Digital India, Digital Health, Deep Ocean Mission and Gaganyaan have helped position science and innovation at the centre of India’s development journey.
He said missions such as Chandrayaan-3 have transformed space science into a subject of widespread public interest, creating unprecedented awareness and engagement among citizens across the country.
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The Minister said India’s growing capabilities in frontier sectors such as space, atomic energy and advanced technologies have strengthened the country’s global standing.
He said the confidence generated by these achievements has enhanced the credibility of indigenous technologies and reinforced India’s position as a trusted technology partner.
Dr Jitendra Singh said recent technological achievements have demonstrated India’s ability to excel in emerging domains where advanced technologies increasingly shape strategic and economic outcomes.
The growing acceptance of Indian technologies and products across international markets reflects the strength of the country’s scientific and technological capabilities, he added.
Referring to the impact of reforms in the space sector, the Minister said India, which had only a handful of space startups a few years ago, today has more than 400 space startups contributing to a vibrant and rapidly expanding ecosystem.
He said the scale of growth achieved in a relatively short period demonstrates the enormous potential of India’s space economy.
Dr Jitendra Singh said India’s achievements in missions such as Chandrayaan-3 and the upcoming Gaganyaan programme have established the country among the world’s leading space-faring nations.
The Minister said one of India’s unique strengths lies in the extensive use of space technology for governance and development.
He said the country has successfully integrated space-based applications into infrastructure planning, project monitoring and public service delivery on a scale rarely seen elsewhere.
Singh said initiatives such as PM Gati Shakti, urban development programmes and drone-enabled monitoring systems demonstrate how space technology is helping improve planning, implementation and monitoring of development projects while enhancing transparency and efficiency.
The Minister said every major space programme evolves through continuous learning and improvement. Challenges encountered during missions contribute to stronger systems, improved preparedness and more robust future missions.
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Singh said temporary setbacks in space missions should be viewed in the larger context of scientific advancement and technological evolution.
He said India’s overall record compares favourably with leading space powers, citing the successful first-attempt achievements of Chandrayaan and the Mars mission as examples of the country’s scientific and technological capabilities.
Ends.
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