India’s space industry projected to exceed $40 billion in a decade, says minister

Union Minister Jitendra Singh announced that India’s space sector is on track to cross the $40 billion mark within ten years. The projection reflects growing demand for satellite services, launch capabilities and downstream applications. Government initiatives aimed at boosting private participation are a key driver of the growth outlook. Recent policy reforms have streamlined licensing and encouraged foreign investment in space projects. The sector’s expansion is expected to generate significant employment and technology spillovers. Singh highlighted upcoming missions and commercial launch contracts as revenue catalysts. Analysts view the forecast as a benchmark for India’s emerging role in the global space market. Stakeholders will monitor policy implementation and market response as the timeline unfolds.