Space economy has grown to $8 billion and is projected to touch $44 billion in the next decade- Dr. Jitendra Singh
Formfees
21/01/2025
Union Minister of State (independent charge) for Science and Technology, Dr. Jitendra Singh shared an in-depth conversation with Shri Vijay Tankha, Member of Rajya Sabha, during an exclusive programme on Sansad TV, India’s biopharma and space sectors, and the nation’s strides in governance and climate action.
Dr. Jitendra Singh highlighted India’s transformation in the space sector, and credited PM Modi for these reforms, which opened the sector to private investment. The space economy has grown to $8 billion and is projected to touch $44 billion in the next decade. Milestones like the indigenous Gaganyaan Mission, the upcoming Chandrayaan-4 (2027), Shukrayaan (2028), and the Indian Space Station (2030) showcase India’s robust trajectory.
He lauded startups and FDI for fuelling innovation, with missions like SPADEX enabling docking capabilities, marking a leap in technological advancement. The Vyom Mitra robo mission was highlighted as a precursor to human space exploration.
Dr. Jitendra Singh claimed that Biomanufacturing and bio foundries will foster the Fourth Industrial revolution. “India’s bio-economy, backed by abundant resources from the Himalayas to its shores, was spotlighted as a growth driver. As one of the first nations with a dedicated bio-economy policy, India is set to lead global innovation in recycling, manufacturing, and startups in this sector. Dr. Singh reaffirmed the government’s support for knowledge pooling, public-private collaborations, and startup participation to sustain growth.” He added that India is one pioneer country who has prepared its BIO-E3 policy.
Dr. Jitendra Singh emphasized the shift to citizen-centric governance under PM Modi. Initiatives like Mission Karmayogi are redefining bureaucracy by prioritizing role-based capacity building. Digital innovations like the face-recognition-enabled digital life certificate and dynamic online modules have eased citizens’ lives.
India’s commitment to combating climate change and addressing its heterogeneous climatic challenges was reiterated. Dr. Jitendra Singh recalled the PM’s Mission LiFE, promoting sustainable living. He also highlighted India’s leadership in preventive healthcare, meeting global standards in addressing health and environmental concerns.
India has emerged as a reliable partner on the world stage, driven by collaborative efforts, transparency, and innovation. The conducive environment created under PM Modi’s leadership has made the nation a hub for startups, businesses, and industries, cementing its position as a leader in technology, sustainability, and governance.
