New Delhi: The space sector in Bharat is undergoing a significant boom, as revealed by Union Minister for Science and Technology, Dr. Jitendra Singh. An investment of Rs 1,000 crore has been secured to support and stimulate space start-ups. He released the details of the investments gained from April of this year.

In just four years, the number of space startups in Bharat has grown to 1,180 crores. Minister Jitendra Singh emphasised that the space sector has evolved into a highly profitable venture. He highlighted the Prime Minister’s commitment to fostering partnerships between the public and private sectors, which helped to position them at the forefront of this progress.

Bharat’s space economy currently stands at 8 billion US dollars. Minister Singh expressed his confidence that we will witness unprecedented growth in this field by 2040. The minister added that many are predicting a growth of 100 billion dollars. Important achievements by the Indian Space Research Organisation (ISRO) include the successful launch of over 430 foreign satellites. Minister Singh also shared the details of significant financial gains, with 290 million euros earned from European satellites and $170 million from launching American satellites.