India’s Space Economy to Reach USD 40-45 Billion in 7–8 Years; Dr Jitendra Singh underlines increasing Private Investments following Space Unlocking by PM Modi

Union Minister Dr. Jitendra Singh stated that India's space economy is projected to reach USD 40–45 billion over the next seven to eight years, growing from its current valuation of approximately USD 9 billion. Speaking at a Bloomberg New Economy Forum roundtable in New Delhi, the Minister emphasized the transition from demonstrating technological capabilities to building globally competitive commercial space enterprises. He highlighted the impact of opening the space sector to private participation in 2019–2020. Key growth drivers discussed include predictable demand through anchor government customers, faster regulatory approvals, lower business costs, robust supply-chain integration, and international partnerships, alongside the extensive terrestrial application of space technology in agriculture, infrastructure monitoring, and disaster management.