India’s space economy is projected to expand five-fold to reach $45 billion within the next eight to ten years, according to Union Minister Jitendra Singh.

He emphasised that the space sector has become one of the fastest-growing industries in the country, reflecting the government’s commitment to building technology-driven growth engines.

Singh noted that India’s space economy, which was negligible in the past, currently stands at around $9 billion. He expressed confidence that the rapid pace of growth will enable the sector to achieve the $45 billion target within the stipulated time frame. This expansion is seen as a crucial step in positioning India as a major player in the global space economy.

The minister also highlighted the remarkable progress of India’s biotechnology sector. He explained that in 2014, the biotechnology economy was valued at $10 billion. With the introduction of the BioE3 policy, designed to integrate biotechnology with employment, economic growth, and environmental sustainability, the sector has surged to $193 billion. Singh attributed this success to strong policy support and active industry participation.

Turning to India’s human spaceflight ambitions, Singh revealed that the government is aiming for a significant milestone next year under the Gaganyaan program.

He confirmed that a final test mission involving the humanoid robot Vyommitra is scheduled before the end of this year. Following the completion of test flights, a full-scale rehearsal will be conducted, paving the way for India to send its first human into space under the Gaganyaan mission in 2027.

Singh outlined India’s long-term energy transition strategy, stressing that the country’s push towards nuclear and renewable energy predates current geopolitical uncertainties in West Asia.

He projected that by 2047, nuclear energy will account for approximately 10 to 11 per cent of India’s electricity requirements, while renewable sources will contribute 70 to 75 per cent. This ambitious energy mix is intended to strengthen India’s energy security and reduce dependence on fossil fuel imports.

The minister further mentioned that India is exploring emerging technologies such as ocean energy as part of its broader strategy to achieve net-zero emissions by 2070. He underscored the importance of reducing petrol imports to achieve self-reliance in fuel, highlighting the government’s determination to cut dependence on external sources.

Singh’s remarks underscore India’s broader vision of expanding capabilities in strategic sectors such as space, biotechnology, and clean energy. These initiatives are expected to support long-term economic growth, enhance energy security, and consolidate India’s position as a global leader in science and technology.

ANI