Space economy to increase five-fold to $44 billion in few years: Union Minister Jitendra Singh

Union Minister Dr Jitendra Singh said on Tuesday that India's space economy will grow fivefold from $8 billion to $44 billion in the next few years. He said the space sector will play a key role in achieving the $5 trillion 'Developed India' goal.

The Union Minister said that the space budget has almost tripled to ₹13,416 crore in 2025-2026 from ₹5,615 crore in 2013-14.

He also cited the Chandrayaan mission, which was conducted at just ₹600 crore, half the cost of similar missions by other countries, and stressed India's rise as a global leader in space, science, and technology.

The science and technology minister also discussed the Indian Space Research Organisation's (ISRO) historic milestones, such as India becoming the first country to successfully reach the South Pole of the Moon.

Furthermore, he underlined India's efforts to foster an inclusive space ecosystem, with women playing an important part in projects like Chandrayaan and Aditya L1.

Singh mentioned India's growing prominence on the global stage, citing recent developments like the US invitation to send an Indian astronaut to the International Space Station and future collaborations between India and international space agencies.

Additionally, he noted ISRO's role in improving communication and connectivity, reinforcing India's self-reliance in space and satellite technology, and highlighted that 433 foreign satellites had been launched by ISRO, which earned €292 million and $172 million.