India’s Space Economy will grow 5 times from $8.4 billion to $44 Billion by 2033: Dr. Jitendra Singh

The government has said that the space economy will grow nearly five times in the next decade from 8.4 billion dollars to around 44 billion dollars. 

Briefing the media in New Delhi yesterday, Minister of State for Atomic Energy and Space, Dr. Jitendra Singh, said, that under the leadership of Prime Minister Narendra Modi, India will lead in space biology. He said the investments in the space sector reached one thousand crore rupees in 2023 alone, placing India as a frontline player globally. The minister highlighted that India’s space sector has emerged as a significant foreign exchange earner. Of the 220 million euros earned through launching foreign satellites, 85 percent of the total was



generated in the last eight years.

The minister said ISRO’s Space Docking Experiment (SPADEX) marks a groundbreaking achievement, placing India on par with global leaders in space docking technology. Dr Singh said the SPADEX mission is a pivotal project by ISRO aimed at developing and demonstrating technologies for spacecraft rendezvous, docking, and undocking using two small satellites. He added that these capabilities are critical for future missions, including satellite servicing, space station operations, and interplanetary exploration. The space docking system will be used in later parts of Gaganyaan and India’s Space Station program.