Jitendra Singh describes India as an emerging space economy

NEW DELHI: While addressing an inaugural session of the G20 Space Economy Leaders, Dr Jitendra Singh, Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; Atomic Energy and Space, described India as an emerging space economy.

The G20 Space Economy Leaders Meeting is being organised by the Department of Space, Government of India, as part of India’s G20 presidency.

The Minister highlighted that India is one of the few countries in the world that have attained end-to-end capability in the space sector. In the last few years, space technology has reached all walks of life, having immense commercial potential, thereby increasing the demand for space-based services.

Dr Singh said that under the leadership of the Prime Minister of India, the Government of India has decided to open the doors of space sectors for the private industry in India. The policy change was introduced with the 2020 space sector reforms, and these reforms aim to enhance end to end capacity of these industries with active support from India’s crown jewel Indian Space Research Organisation (ISRO). The Minister highlighted that the new policy will allow private entities to be part of India’s space journey, and with this increased contribution from the private sector, India will expand its footprint in the global space economy.

Apart from that, central cabinet has also approved India’s space policy which will give a further boost to private sector investments in space technology.