India's Space Sector Projected to Drive Economic Growth, Says Minister Jitendra Singh
Union Minister Jitendra Singh announced that India's space sector is poised to significantly boost economic growth, with the Indian Space Research Organisation (ISRO) having launched 399 foreign satellites since 2014, generating substantial revenue. He highlighted the government's initiative to open the sector to private players as transformative, projecting the space economy to grow from its current valuation of 8.4 billion USD to 40-45 billion USD in the next decade, positioning India as a hub for space manufacturing and entrepreneurship.
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Union Minister Jitendra Singh stated that the space sector will significantly contribute to India's economic growth. He highlighted that since 2014, the Indian Space Research Organisation (ISRO) has launched 399 out of 434 foreign satellites, generating revenues of 323 million Euros and 233 million USD.
Singh emphasized the government's decision to open the sector to private players as transformative, with India's space economy currently valued at 8.4 billion USD and projected to reach 40-45 billion USD in the next decade. He noted that India is emerging as a hub for space manufacturing and entrepreneurship.
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