India's space economy to reach $40-45 billion in 7-8 years, says Dr Jitendra Singh

India's space economy is projected to grow to $40–45 billion within 7–8 years, according to Dr Jitendra Singh, following Prime Minister Narendra Modi's decision to open the space sector to private participation.

Dr Singh highlighted the significant expansion opportunity for private investment in India's space industry. The move to liberalize the sector has created fresh avenues for commercial entities to engage in space activities, marking a major policy shift.

The projected growth underscores the government's commitment to developing India's space capabilities while leveraging private sector expertise and capital. This opening is expected to accelerate innovation and commercial applications in satellite technology, launch services, and related domains.