New Delhi [India]: India’s space economy, currently accounting for 8–9% of the global space economy, is projected to grow threefold in the next decade, according to Union Minister Jitendra Singh.
Speaking at the India Economic Conclave organized by the Times Network in New Delhi, Singh emphasized that India is advancing its space sector to match global benchmarks. He highlighted that significant progress has been made in the space economy since 2014.
Responding to a question about leveraging natural resources for creative growth, Singh noted that Prime Minister Narendra Modi’s decision to open the space sector to private players has unlocked immense opportunities for innovation and benefits.
Quoting the Ministry of Science and Technology, Singh said, “India will have its own space station by 2035.” He stressed the importance of exploring uncharted territories, stating, “There is no dearth of resources, potential, commitment, and passion.”
The Minister further highlighted India’s advancements in space technology, remarking that while ISRO was established after NASA, it now stands as a global leader. He shared that over 432 satellites have been launched by India to date, with 397 of these missions occurring since Prime Minister Modi took office in 2014.
To achieve India’s ambitious 2047 vision and emerge as a global phenomenon, Singh underscored the need to adopt international strategies and standards.
He also pointed out the untapped potential of India’s space, marine, and Himalayan resources, which have gained renewed focus under PM Modi’s leadership. These resources, he stated, will play a vital role in driving India’s future economic growth.