Indian Space Economy now touches estimated around INR 70000 Crore
As per various market surveys, the Indian Space Economy has grown with an average Compound Annual Growth Rate (CAGR) of 8 per cent. This what a few Countries wanted to completely destroy during its nascent stages or atheist retard it badly. The Nambinarayan episode was because of this. However India finally overcame all the obstacles and has emerged the winner.
The current size of the Indian space economy is estimated at around INR 70000 Crores as stated by Shri Jitendra Singh, Union Minister in the Rajya Sabha on Thursday. Commenting on whether the government proposes to increase the share of the private sector in the country’s space economy, the minister said in the affirmative. The minister highlighted various major initiatives taken by the Department of Space and ISRO and was of the opinion that the government should increase the share of the private sector in the Indian space economy.
“Of this, the downstream services market, primarily comprising communication and data applications, accounts for close to 80 per cent of the total space economy, wherein the private sector is a major contributor,” Singh replied to the query of an Independent MP from Rajya Sabha Kartikeya Sharma. This response was to a query in a written reply when asked about the current size of the country’s space economy and the share split between government and private entities.
“The upstream market, such as satellite and launch operations, is primarily contributed by the government, with the private sector in a vendor-oriented role towards manufacturing and delivering sub-systems and components,” he added.
