"Of this, the downstream services market, primarily comprising communication and data applications, accounts for close to 80 per cent of the total space economy, wherein the private sector is a major contributor," Singh replied to the query of an Independent MP from Rajya Sabha Kartikeya Sharma

New Delhi: The current size of the Indian space economy is estimated at around USD 8.4 billion USD, Union Minister Jitendra Singh told the Rajya Sabha on Thursday.

Singh responded to a query in a written reply when asked about the current size of the country's space economy and the share split between government and private entities.

"Of this, the downstream services market, primarily comprising communication and data applications, accounts for close to 80 per cent of the total space economy, wherein the private sector is a major contributor," Singh replied to the query of an Independent MP from Rajya Sabha Kartikeya Sharma.

"The upstream market, such as satellite and launch operations, is primarily contributed by the government, with the private sector in a vendor-oriented role towards manufacturing and delivering sub-systems and components," he added.

As per various market surveys, the Minister said the space economy has grown with an average Compound Annual Growth Rate (CAGR) of 8 per cent.

Asked whether the government proposes to increase the share of the private sector in the country's space economy, the minister said in the affirmative.


Highlighting the major initiatives, the minister said the government should increase the share of the private sector in the Indian space economy.