Space sector will play a major role in India's future economy: Dr Singh

Union Minister for Science and Technology, Dr Jitendra Singh has said that our benchmarks, strategies and the parameters are global. Talking to media in New Delhi on Thursday, Dr Singh said, our space economy was almost dismal, not even worth mentioning. Today we are 8 billion US dollar and the manner in which we are progressing, our projections indicate that in just next 8 to 10 years we will be going up nearly 5 times, maybe 40 billion, 45 billion US dollar. 'Space component is going to be a major value addition to the future economy growth,' he said. The Minister claimed that , India's space missions are much, much cost-effective compared to the counterpart missions elsewhere and as far as space technology is concerned, is of a much, much more volume in other sectors.

Watch: Union Minister Jitendra Singh says, "To take off from what V. Narayanan was saying about the recent missions and the upcoming missions, I think what might have struck you is that the Department of Space has been around for nearly 70 years and officially the ISRO was… pic.twitter.com/MDyEAAlKkj

— IANS (@ians_india) August 21, 2025

ISRO Chairman V. Narayanan said, the last 10 years, the progress has been phenomenal and exponential. The missions completed from 2015 to 2025 are almost double those from 2005 to 2015. During the last 6 months, three important missions have been accomplished. The Axiom-4 mission is a prestigious mission. The first Indian was taken to the International Space Station and was brought back safely, Shubhanshu Shukla.

#ISRO Chairman V. Narayanan says, '10 years ago, we had only one startup company in the space area. Today, we have more than 300 startups in the space industry. The missions completed from 2015 to 2025 are almost double.' pic.twitter.com/T2ZX8nQgs0

— newsinc24 (@newsinc24) August 21, 2025

Giving details of ISRO's future programmes, Narayanan said, in another 2-3 months, we will launch a 6500 kg communication satellite of USA, which is going to be launched using our launch vehicle.