Space economy at USD 9 billion, may hit USD 45-46 billion: Jitendra Singh
Why in the news
On 8 October 2026, Union Minister Dr Jitendra Singh told students at the NaMo Book Fest in Varanasi that India’s space economy, now worth about USD 9 billion, could expand roughly five-fold in the coming decade.
Key facts
- Space economy: about USD 9 billion at present; could reach USD 45-46 billion in 8-10 years if growth continues.
- Private participation: allowing private companies into the space sector has opened jobs for young talent at home and reduced brain drain; startups like Skyroot were cited.
- Space applications: satellite data aids infrastructure planning, project monitoring and disaster management; Indian satellites also help Nepal, Bangladesh, Myanmar and Sri Lanka prepare for floods.
- Chandrayaan-3 was cited as an example of a complex mission done at low cost.
- Nuclear energy: sector opened to private players; target of 100 GW by 2047, seen as clean power for AI and data centres.
| Indicator | Earlier | Now / Target |
|---|---|---|
| Space economy | About USD 9 billion (now) | USD 45-46 billion in 8-10 years |
| Gross Expenditure on R&D (GERD) | About Rs 46,000-47,000 crore (2013-14) | About Rs 2-2.5 lakh crore |
| Nuclear capacity | – | 100 GW by 2047 |
About the event
The two-day NaMo Book Fest (7-8 October 2026) was held at the Rudraksh International Cooperation and Convention Centre, Varanasi. Dr Jitendra Singh is Minister of State (Independent Charge) for Science and Technology and Earth Sciences, and MoS for Atomic Energy and Space among other portfolios. He also listed the Deep Ocean Mission, National Quantum Mission and the Anusandhan National Research Foundation as key science initiatives.
Exam angle
- Remember the figures: USD 9 billion now, USD 45-46 billion projected.
- Nuclear target: 100 GW by 2047.
- Skyroot is a private Indian space launch startup often asked in current affairs.