India’s space economy to reach $44 billion by 2033, global share to reach 8%: IN-SPACe chief


Indian National Space Promotion and Authorization Center (INC) Chairman Pawan Goenka said India’s space economy is on track to reach the $44 billion mark in 2033, and the country’s share in the global space economy is expected to grow to 8 percent by then. Can. space).

According to a news agency report, Goenka, while briefing reporters in Bengaluru, said that at present, India’s share in the global space economy is 2 percent and the size of the Indian space economy is estimated to be $ 8 billion. PTI.

“As we unveil the decadal vision for the Indian space economy, we emphasize that the future of the Indian space sector is a shared endeavour. Therefore, our strategy promotes an era of collaboration among all stakeholders to drive growth,” he was further quoted as saying.

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The initiatives taken by the Indian Space Research Organization (ISRO) to open doors to private players in space as well as IN-SPACe to promote private sector participation will boost the space economy and in turn aid in the vision of itself Will get it. Trustworthy India, Goenka reportedly added.

“The purpose of IN-SPACe is two-fold, one is to be the regulator and authority of the space industry, which means that any activity that happens in terms of launches to orbit will be authorized by IN-SPACe to ensure that it happens . Do not compromise on the safety and security aspect of the spacecraft or launch vehicle. The second role is to encourage the private sector to play a much bigger role in IN-SPACe,” the official told the news agency. ANI,

“The four wheels of IN-SPACe are Promoter, Enabler, Authorizer and Supervisor. For the private sector, we have started short-term courses for skill development. ISRO technologies are available for them. They can also use ISRO’s laboratory facilities,” Vinod Kumar, publicity director of IN-SPACe, said while speaking ANI,

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