Space economy to grow fivefold to $44 billion in a decade, says Union Minister Jitendra Singh

New Delhi: India's space economy is set to grow fivefold to $44 billion in the next decade, with private investments already crossing ₹1,000 crore, union minister of state for Science & Technology Jitendra Singh said on Tuesday.

"Missions like Gaganyaan and applications in border security showcase India's self-reliance, proving that the world now looks to us as a leader in space technology," said Singh at the ETNOW.in Business Conclave & Awards 2025.

The conclave deliberated on India's road map to Viksit Bharat. Emphasising the importance of border security and infra, Arunachal Pradesh Governor KT Parnaik pointed to challenges from China and Myanmar-based insurgents.


"Strong border infrastructure and continuous engagement with military and civil authorities are crucial," he said, adding that Arunachal's rich biodiversity and hydroelectric potential offer major growth opportunities.

As India strengthens its borders and asserts its leadership in space, the country's digital framework also needs urgent modernisation, former union minister Rajeev Chandrasekhar said.

He batted for overhauling the 25-year-old IT Act, calling it outdated. "The IT Act doesn't even mention the Internet, let alone AI-two of the biggest forces shaping digital economy today," said Chandrasekhar.

He urged the government to introduce either an omnibus law or targeted regulations addressing safety, harm, and misinformation, while ensuring an entrepreneur-first approach to policymaking.