India’s Space Economy to Touch $44 Billion in the Next Decade

The Indian space economy, valued at $8 billion, is set to soar to $44 billion in the next decade, as shared by Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology. Speaking with Shri Vijay Tankha on Sansad TV, Dr Singh credited transformative reforms under PM, Narendra Modi, for opening the space sector to private investment and fostering innovation.

Milestones such as the indigenous Gaganyaan Mission, Chandrayaan-4 (2027), Shukrayaan (2028), and the Indian Space Station (2030) exemplify India’s ambitious space agenda. Startups and foreign direct investment (FDI) have played a crucial role in advancing technologies like docking capabilities through SPADEX and the Vyom Mitra Robo mission, a step toward human space exploration.

Driving Innovation in the Bio-Economy

Dr Singh highlighted the Fourth Industrial Revolution’s potential, which was driven by biomanufacturing and bio-foundries. India’s vast natural resources, ranging from the Himalayas to its extensive coastlines, bolster the country’s bio-economy. He emphasised that India is among the first nations to adopt a dedicated BIO-E3 policy, positioning itself as a global leader in recycling, manufacturing, and startup innovation.

The government’s focus on fostering public-private partnerships, startup participation, and knowledge pooling is key to sustaining this growth. This comprehensive approach enables India to address global challenges while driving economic growth.

Governance and Citizen Empowerment

Under PM Modi’s leadership, India has shifted to a more citizen-centric governance model. Programmes like Mission Karmayogi focus on role-based capacity building for bureaucrats, while digital innovations like face-recognition-enabled life certificates and dynamic online services simplify daily life for citizens.

India’s strides in governance underscore its commitment to leveraging technology for inclusivity and efficiency.

Commitment to Sustainability and Climate Action

Dr Singh reiterated India’s dedication to combating climate change through initiatives like PM Modi’s Mission LiFE (Lifestyle for Environment), which advocates sustainable living practices. India’s efforts to meet global standards in healthcare and environmental sustainability further cement its leadership in addressing health and climate challenges.

India: A Global Partner in Progress

India’s transparency, innovation, and collaborative ethos have established it as a reliable global partner. With a favourable environment for startups and industries, the nation is poised to lead in technology, sustainability, and governance.

Dr Singh’s remarks reflect a future where India’s growth is driven by innovation and inclusivity, laying the foundation for a brighter, more sustainable world.

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