Space sector to become key component of India’s overall economy: Jitendra Singh

NEW DELHI: The space sector is likely to become a crucial enabler of India’s overall economy, potentially reaching between $40 billion and $45 billion over the next 10 years, a senior minister said.

“In the last five years, our space economy which was just dismal, is now about $8 billion to $9 billion. This pace is so fast that in the next 10 years, we hope to grow fivefold, or even more, to $40 billion-$45 billion. So, the space economy will become a very important component of India’s overall economic growth,” Jitendra Singh, minister of state for the department of space and atomic energy, and the Prime Minister’s Office, told ETSatcom.