Pariksha SaathiIndia's space economy, about USD 9 billion now, expected to reach USD 40-45 billion in seven to eight years: Dr Jitendra Singh
India's space economy, now valued at around USD 9 billion, is expected to reach USD 40-45 billion over the next seven to eight years, Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh said on 17 October 2026 at a roundtable on 'Space, Sovereignty and New Economy' organised by the Bloomberg New Economy Forum in New Delhi. He said opening the space sector to private participation in 2019-2020 had produced significant results within five to six years, and that India must now move from demonstrating capabilities to building globally competitive commercial space companies. Predictable demand from anchor government customers, regulatory approvals within defined timeframes, lower business costs and stronger supply chains would be key to scaling up, he said. He added that India provides space-based information and support for disaster management to neighbouring countries including Myanmar, Bangladesh and Sri Lanka.
Drafted with AI assistance from the official PIB release linked above and checked against it by a second AI pass. Not line-edited by a human.
Learning context
The Indian National Committee for Space Research (INCOSPAR) was set up by the Government of India in 1962, as envisioned by Dr Vikram Sarabhai. ISRO was formed on 15 August 1969 and superseded INCOSPAR with an expanded role. The Department of Space (DOS) was set up, and ISRO brought under it, in 1972; ISRO is a major constituent of DOS.
Reference: ISRO, organisation profile
Check yourself: when was India’s space sector opened to private participation, according to the release?
In 2019-2020. The Minister said the move had produced significant results within five to six years.
Revision task: from this release, note the current and projected size of the space economy, the forum and the conditions the Minister listed for scaling up, and keep them apart from the standing facts about ISRO above.
Test yourself
According to Dr Jitendra Singh on 17 October 2026, India's space economy is expected to reach what size over the next seven to eight years?
Show the answer
Answer: USD 40-45 billion
He said the space economy, valued at around USD 9 billion now, is expected to reach USD 40-45 billion over the next seven to eight years.
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