India Aims to grow space sector by five fold to 44 billion dollars by 2033

1. Growth Projections & Targets:

• Growing ambitions: Is expected to increase to 44 billion dollars by 2033 (a five-fold growth)
• Share in the world: Targets to expand share of space economy in India to 2% to 8% by 2033 .
• International environment: Projection on the global space market of 1.8 trillion by 2035 .

2. Key Growth Drivers:

• Primary growth engine  downstream services:
• Earth Observation (EO) applications.
• Satellite Communication (SatCom) services.
• Navigation on NavIC system.
• Telecommunications, agriculture, disaster management, urban planning and governance Applications Applications across telecommunications, agriculture, disaster management, urban planning, and governance.

3. Institutional Support & Reforms:

• ISRO as foundational pillar
• Participation by the private sector that has almost 200 space startups .
• Reform policy via IN-SPACe (Indian National Space Promotion and Authorization Centre).
• Better procurement techniques and use of assets .

4. Strategic Applications:

• National security: 52 specific ISR (Intelligence, Surveillance, Reconnaissance) satellites envisaged .
• Improvement of disaster response .
• Application of space technology to rural development .
• Space-based service governance.

Significance: This integrated development plan will make India an influential entity in the space economy globally, through technological advancements and invention, and also through the collaboration of Government and Industry to create economic growth and development within the nation.