Space Economy Of India To Skyrocket $40 Bn By 2040: Union Min Jitendra Singh

Noida, Sept 5 (KNN) India’s space economy is valued at USD 8 billion and estimated to reach USD 40 billion by 2040, said Union Minister Jitendra Singh on Monday.

In 2014 there were only four space startups in India and that number has increased to more than 150 in 2023, said the Minister.

Inaugurating the S20 Conference under the aegis of G20 at Amity University, he said, “In 2014, the country had 350 startups but today we have more than 1.25 lakh startups and 130 unicorns. Of the 1.25 lakh startups, 6,000 are in the unicorn sector itself which has transformed the landscape of innovation in the country.”

“There were only four space startups in the country in 2014 whereas in 2023, there are more than 150 startups. Our Space economy is currently at USD 8 billion and estimated to reach USD 40 billion by 2040,” the minister added.

India's lunar mission successfully touched down on the lunar surface on August 23, well within its intended landing site, later named as the Shiv Shakti Point by India.

Throughout its operational phase, Vikram Lander and Pragyan rover executed numerous lunar experiments.  (KNN Bureau)