New Delhi, Nov 18 India’s space sector is set to grow from the current $8 billion to $45 billion in the coming 10 years, said Jitendra Singh, Minister of State for Science and Technology and Department of Space, on Tuesday.
Speaking at the 4th edition of the India International Space Conclave (IISC) 2025 in New Delhi, Singh noted that space will be an important contributor to India’s future economic growth.
“Space reforms in the last five years have been a turning point. Our space economy was dispersed and was not even considered a part of the economy. Today, the Indian space economy is $8 billion, and the pace at which it is moving, the projection is that in the next 10 years, it will go up $44-45 billion,” Singh said.
“In the times to come, space is going to be an important contributor to the growth of India's economy as we move up the ranks. Around 70 per cent of our space-driven applications are for ease of living and with a focus on the common citizen, which is not the specific attention of many countries that are actively working in the space sector,” the Minister added.
IISC 2025 is organised by the Indian Space Association (ISpA), in collaboration with ISRO and IN-SPACe.
The event also felicitated Gp Capt Shubhanshu Shukla, the first Indian to land on the International Space Station, symbolising the nation’s pride and the human spirit of exploration.
“When you cross the boundary of space, you are given a number, and I was number 634. But when I came back, kids told me: 'We didn't know that there was an ISS in space before you went; we cared because you were there.' When you see someone like yourself doing things you find impossible, it gives you the courage to dream. We have established extremely ambitious goals, but for us to achieve that, all of us have to be active participants. The sky was never the limit. Not for me, not for you, and not for Bharat," said Shukla.
Lt. Gen. AK Bhatt (Retd.), Director General, Indian Space Association (ISpA) shared his views on innovation and resilience in India's space sector. He noted that the global countries have shown interest in the Indian space sector.
“We are witnessing growing interest from multiple international trade agencies, signaling expanding opportunities in India’s space sector. The coming year will see numerous rocket and multi-sensor satellite launches, reflecting the dynamism of our space ecosystem,” he added.
The two-day premier space industry event is expected to bring together senior government officials, global and Indian leaders from industries, agencies, and many innovators and policymakers.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor