New Delhi, November 18 (IANS). Union Science and Technology Minister Dr. Jitendra Singh said on Tuesday that today India’s space economy is worth $8 billion and it is estimated that it will reach $44-45 billion in the next 10 years.
Regarding the theme of India International Space Conclave (IISc 2025), Dr. Jitendra Singh said that India’s space sector is currently passing through an important phase, which is highlighted by the theme of this program.
Addressing industry leaders, global agencies, diplomats and startups, he said that the reforms introduced by the Government of India have created an ecosystem where talent, technology and investment can together shape India’s space economy.
Union Minister Singh said that India is emerging as a preferred global destination for engagement and investment in the space sector. He said this is evident from the growing interest of many international delegations visiting the country in recent months.
Regarding the inclusion aspect of the theme of the programme, the Union Minister said that with the unlocking of the space sector, start-ups, students, industries and citizens have come into what was once a closed area. Now thousands of people are watching the launch of the rocket. More than 300 space startups have emerged in just a few years. Most of these have attracted foreign investment and are growing rapidly.
On innovation, the Union Minister highlighted India’s achievements ranging from Chandrayaan’s landing at the South Pole and discovery of water on the Moon to the successful Mangalyaan mission and simultaneous launch of 104 satellites.
He said that about 70 percent of India’s space applications support ease of living. He cited examples of Gati Shakti for infrastructure planning, ownership for land mapping, satellite-enabled disaster management, telemedicine in remote areas and railway safety systems that can detect obstacles in advance.
–IANS
SKT/
