India's space economy is poised for a dramatic expansion, projected to grow from $8 billion to $44 billion in the coming years, as announced by Dr. Jitendra Singh, Union Minister of State for Science and Technology. This ambitious forecast underscores the government's commitment to enhancing the space sector, a crucial component in achieving a developed India by 2047.

The significant growth in India's space budget, which has nearly tripled under Prime Minister Narendra Modi's leadership, reflects this dedication. The budget rose from ₹5,615 Crores in 2013-14 to an anticipated ₹13,416 Crores by 2025-2026, facilitating advancements in the space sector.

The year 2014 marked a transformative shift in India's space endeavours, as the government opened the sector to private participation and foreign investment under Modi's guidance.

This strategic move created a dynamic environment for innovation and collaboration, with frameworks like NewSpace India Limited (NSIL) and In-SPACe facilitating partnerships between government and private sectors.

The Indian Space Research Organisation (ISRO) has achieved historic milestones, including a successful mission to the Moon's South Pole, showcasing India's leadership in space exploration with cost-effective and indigenous technologies.

Dr. Singh highlighted the impact of space technology on various sectors, such as land record mapping through the Swamitva Scheme, which uses satellite mapping and drone technology. ISRO's success in launching 433 foreign satellites has generated significant revenue for the country.

The minister emphasised the importance of inclusivity in India's space ecosystem, noting the contributions of women in key projects and India's growing stature in international space collaborations.

India's untapped potential in its Himalayan, coastal, and marine resources is expected to drive economic growth and innovation, with the space sector playing a vital role in unlocking these resources for national benefit.

Dr. Singh reaffirmed India's dedication to leading the global space race with innovative, cost-effective, and sustainable technologies, positioning India as a formidable player in the international space community.

Agencies