India's space economy projected to reach $40-45 billion in 7-8 years

Union minister Jitendra Singh said India's space economy, currently valued at around $9 billion, is projected to grow to $40-45 billion over the next seven to eight years. He was addressing a media roundtable on "Space, Sovereignty and New Economy" organised by the Bloomberg New Economy Forum in New Delhi on Saturday. Singh said the opening of the space sector to private participation in 2019-2020 had delivered significant results within five to six years, and that the next priority is building globally competitive commercial space companies. He cited faster regulatory clearances, predictable demand with government agencies as anchor customers, and GST-related reforms as key enablers. The figures are a ministerial projection, not a committed outcome.

DTT summary based on The New Indian Express's report. The full article is on the publisher's site.