India’s space economy to reach USD 40 billion by 2040: Union minister Jitendra Singh

There were only four space startups in India in 2014 and that number has increased to more than 150 in 2023, Union Minister Jitendra Singh said here Monday, noting that currently, the country’s space economy is valued at USD 8 billion and estimated to reach USD 40 billion by 2040. The Minister of State (Independent Charge) for Science and Technology shared the information as he inaugurated the S20 Conference under the aegis of G20 at Amity University here.

He said India’s presidency of G20 is a matter of immense pride and under the visionary leadership of Prime Minister Narendra Modi, India has attained remarkable achievements in science and technology.