India’s space economy has grown to $8 billion and is set to expand to $44 billion over the next decade, according to Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh, according to a press release issued by the Ministry on Tuesday.
In a conversation with Rajya Sabha Member Vijay Tankha on Sansad TV, Dr. Singh credited Prime Minister Narendra Modi’s space sector reforms for opening the industry to private investment, enabling significant growth.
Dr. Singh highlighted major milestones, such as the indigenous Gaganyaan Mission, the forthcoming Chandrayaan-4 (2027), Shukrayaan (2028), and the Indian Space Station (2030), marking India’s progress in space exploration.
He lauded the role of startups and foreign direct investment (FDI) in driving innovation, mentioning key advancements like SPADEX’s docking capabilities and the Vyom Mitra robo mission, a precursor to human space exploration.
In addition to space, Dr. Singh spoke about India’s bio-economy, emphasizing the country’s abundant natural resources and its status as one of the first nations to adopt a dedicated bio-economy policy. He projected that biomanufacturing and bio foundries would propel the Fourth Industrial Revolution, positioning India as a leader in global innovation for recycling, manufacturing, and startups. He also mentioned India’s pioneering efforts under the BIO-E3 policy.
Dr. Singh further highlighted PM Modi’s citizen-centric governance model, with initiatives like Mission Karmayogi for capacity building in bureaucracy, and digital innovations such as face-recognition-enabled digital life certificates. These efforts have eased citizen services and streamlined governance.
Addressing climate change, Dr. Singh reiterated India’s commitment to tackling diverse climatic challenges, with the PM’s Mission LiFE promoting sustainable living practices. He also underscored India’s leadership in preventive healthcare, meeting global standards in addressing both health and environmental concerns.
With a collaborative and transparent approach, India has emerged as a reliable global partner, solidifying its position as a leader in technology, sustainability, and governance under PM Modi’s leadership. The conducive environment has made India a hub for startups, businesses, and industries, fueling its growth across sectors.