India targets a five-fold increase in its share of the global space economy, Union Minister of State (Independent Charge) for Science and Technology Dr Jitendra Singh said on Tuesday.
India’s space economy today stands at a modest $8 billion, but our own projection is that by 2040 it will multiply manifold, Dr Singh said.
“But more interesting is that according to some international observers, for example the recent ADL (Arthur D Little) Report mentions that we could have the potential of $100 Billion by 2040,” he said.
Dr Singh was addressing the gathering after launching the Technical Centre of IN-SPACe in Ahmedabad.
He said India’s quantum leap in the Space sector has only been possible after Prime Minister Narendra Modi took the courageous decision to “unlock” this sector from the “veil of secrecy”.
“Prime Minister Narendra Modi has broken taboos of the past by opening the space sector to public-private-participation,” he said.
