India’s space sector poised to surpass $40 billion in next 10 years: Jitendra Singh

New Delhi, June 14 (IANS) Union Minister of State (Independent Charge) for Science & Technology and Department of Space, Dr Jitendra Singh, said on Sunday that India’s space economy is poised to grow from the current $8-9 billion to nearly $40-45 billion over the next decade, driven by policy reforms, growing private participation and a rapidly expanding innovation ecosystem.

Addressing a press conference here, Jitendra Singh said the transformation of India’s space sector reflects a larger change taking place across the country, where science and technology have moved beyond laboratories to become part of the national consciousness.

“The biggest achievement is that the common citizen today feels connected to India’s scientific progress and sees a stake in it,” Singh remarked.

The Minister said the growing prominence of science and technology in public discourse reflects the vision of Prime Minister Narendra Modi, who has consistently brought science-driven initiatives into the national mainstream through his Independence Day addresses.

He 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.

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.

He 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 the country has successfully integrated space-based applications into infrastructure planning, project monitoring and public service delivery on a scale rarely seen elsewhere.

He highlighted 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.

Dr Jitendra 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.

The Minister said the analysis of the recent PSLV mission anomaly has been completed and the underlying causes identified. Corrective measures have already been initiated, and future missions will benefit from these learnings, further strengthening India’s space programme.

Dr Jitendra Singh said the growing participation of startups, industry and research institutions is creating a strong innovation ecosystem capable of driving the vision of Viksit Bharat 2047.

The Minister was speaking to the media during the RISE Conclave 2026, organised under the theme “Innovation & Entrepreneurship Driven Growth for Viksit Bharat 2047.”

More than 125 startups and technology innovators participated in the event, showcasing solutions across aerospace technologies, artificial intelligence, deep-tech and agri-food innovation.

–IANS

sps/uk