India eyes $44bn space economy by 2033 amid rapid space-sector growth
Union Minister Gajendra Singh Shekhawat said India's space economy is currently worth around US$8.4 billion and has significant potential to reach nearly US$44 billion over the next decade. Speaking at National Space Day celebrations in Ahmedabad, he said the sector's development should not be measured solely by its economic value but also by India's ability to develop advanced technologies, commercialise intellectual property and create solutions to domestic challenges.
Shekhawat said reforms introduced in 2020 had opened new opportunities for private participation in areas including satellite manufacturing, launch services, components, ground infrastructure and space applications, while maintaining the central role of the national space programme.
The scale of India's recent progress was highlighted by Petroleum and Natural Gas Minister Hardeep Singh Puri, who said the country had reached 100 launches and placed 548 satellites into orbit, including around 460 during the past decade.
India became the fourth country to accomplish a controlled lunar landing and the first to reach the Moon's southern polar area. The mission's lander and rover subsequently carried out scientific experiments examining the lunar surface, including its temperature, seismic activity, plasma environment and elemental composition.
Officials also stressed that the rapid expansion of space activity will require greater attention to space debris, cybersecurity, data security and the responsible use of artificial intelligence. Shekhawat described Earth's orbit as a limited resource shared by the international community and said preventing the accumulation of debris would be critical to the long-term sustainability of space activities.
The government expects growing participation across satellite systems, launch technology, space applications and data services to contribute to India's technological and economic development.
Earlier, it was reported that India had retained its position as the world’s largest coconut producer, accounting for 31.24 per cent of global output, while the country ranks third by area under coconut cultivation.
