Indian Space Sector Poised To Boost Tech And Economic Growth: Jitendra Singh

(MENAFN- IANS) New Delhi, July 24 (IANS) India's space sector is set to play a major role in advancing the country's technological and economic growth, said Union Minister of State for Science and Technology Jitendra Singh, in the Parliament on Thursday.

In a written reply in the Rajya Sabha, Singh charted the measures undertaken by the government in boosting the space sector.

“With the landmark space reforms in 2020, the Government has liberalised the Indian space sector and constituted the Indian National Space Promotion and Authorization Centre (IN-SPACe),” Singh said

“The Indian space sector is poised to play a transformative role in the country's technological and economic growth story,” he added.

Post the announcement of space sector reforms in 2020, the number of registered space start-ups has grown exponentially to over 300, he said.

IN-SPACe has also facilitated two successful sub-orbital flights from Indian space start-ups in November 2022 and May 2024, respectively. In addition, six NGEs have launched fourteen satellites into orbit, demonstrating their capabilities.

Another parameter to gauge the impact of space sector reforms is by the number of proposals submitted for facilitation and authorisation.

“IN-SPACe has received a total of 658 applications from more than 380 NGEs for various activities. This support extended to Launch Vehicles and subsystems (89), Satellite launch and Subsystems (236), Ground Segment (43), Space applications (124), Promotional and Design Lab activities (121), till March,” the MoS said.

IN-SPACe has also issued 77 authorizations, signed 79 MoUs, issued 59 registration certificates to 3l data disseminators, signed 91 Joint Project Implementation Plans (JPIPs), and 79 transfer of technology agreements from 2020 till March this year. The MoS had earlier projected the space sector to surge to $44 billion, marking a nearly fivefold growth.

However, Singh noted that the space sector "must be positioned as a strategic enabler, not the sole engine of economic expansion”.

It“should be seen as a catalyst for broader sectoral development, not as a standalone pillar,” Singh added.

The Minister suggested positioning the space sector as an enabler across sectors; promote cross-sector innovation and convergence with fields like AI, quantum computing, biotech; promote a balanced innovation portfolio and build policy and investment guardrails, for balancing rapid expansion without getting over-reliant on the space sector.

“India should use space to enable socio-economic impact more distributed and inclusive, through a diversified innovation-led growth model, where space acts as an integrator and enabler,” Singh said.

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