India's Space Economy Poised to Reach USD 45 Billion in Next Decade; over 400 Space Startups Driving Growth: Dr Jitendra Singh

📌 Summary:

• Dr Jitendra Singh said India's space economy is poised to grow from the current USD 8–9 billion to nearly USD 40–45 billion over the next decade
• Growth driven by policy reforms, rising private participation and an expanding innovation ecosystem; India now has 400+ space startups (up from a handful a few years ago)
• Space technology being leveraged for governance and infrastructure — PM Gati Shakti and AMRUT use it for planning, implementation and monitoring of projects
• Missions cited: Chandrayaan-3 (established India among leading space-faring nations) and the upcoming Gaganyaan human spaceflight programme
• Minister stressed the growing science-society connect, with citizens increasingly seeing themselves as stakeholders in India's scientific progress; frontier sectors (space, atomic energy, advanced tech) boosting global standing and trust in indigenous technologies

🎯 UPSC Relevance: GS3 S&T — space sector reforms, private participation, the space economy and its linkage to Viksit Bharat 2047.

📝 Prelims Facts:

• Current space economy ~USD 8–9 billion; projected USD 40–45 billion in the next decade
• India has 400+ space startups
• Key missions: Chandrayaan-3; Gaganyaan (human spaceflight); Deep Ocean Mission

🔑 Key Term: Space Economy — the full range of economic activities in producing and using space-related products and services, from manufacturing and launch to downstream data applications.