‘Sky is not the limit’: India’s space economy to grow beyond $40 billion, we are at par with countries like US, says Jitendra Singh

With India’s space economy projected to grow beyond $40 billion by 2040, “sky is not the limit” for India’s space journey, Union Minister Jitendra Singh has said according to a PTI report. Speaking at the Central University of Jammu’s Campus Dialogues on Chandrayaan-3, Singh emphasized Prime Minister Narendra Modi‘s role in unlocking the potential of the space sector. “After the successful Chandrayaan-3 mission and the unlocking of the space sector by Prime Minister Narendra Modi, the sky is not the limit for India’s space journey,” he said.
Singh, who is also the Minister of State (Independent Charge) for the Union Ministry of Science and Technology, highlighted India’s remarkable progress in space research. Currently standing at $8 billion, India’s space economy has flourished due to PM Modi’s “courageous decision” to liberate the sector from past limitations, Singh said. “India’s space economy is projected to grow beyond $40 billion by 2040 and, according to the ADL (Arthur D Little) Report, it has the potential to go beyond $100 billion by 2040 — which is going to be a gigantic jump,” he was quoted as saying.
Singh also discussed the successful Chandrayaan-3 mission and India hosting the G20 Summit in New Delhi. He proudly stated that India is now on par with nations like the US, who embarked on their space journeys decades ago. The minister attributed India’s quantum leap in space exploration to the supportive ecosystem created by the Modi government.

Furthermore, Singh highlighted the increased participation of public-private partnerships in the space sector, leading to a rise in startups. The central government has taken initiatives to establish space technology teaching centers in higher education institutions, exemplified by the ISRO Teaching Centre at the Central University of Jammu and NIT-Agartala.
Singh also touched upon the key features of the new National Education Policy, which empowers Indian youth to choose or change subjects based on their aptitude, skill, and interest, liberating them from the confines of their aspirations.