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India Poised to Tap into Booming $1 Trillion Global Space Economy, Says Former ISRO Chief

New Delhi February 8,2023: India is on the cusp of making a major impact in the global space economy, which is estimated to reach $1 trillion in the coming years, according to former chairman of the Indian Space Research Organisation (ISRO), AS Kiran Kumar. During a recent convocation ceremony at Karnavati University, Kumar noted that India has the end-to-end capability to build rockets, satellites, and payloads, and is transforming from a space-capable nation to one with space technology capacity.

Picture: Kumaon Jagran
Shri AS Kiran Kumar

"Space economy is beckoning India to build on its current technological capability and become a significant player in the process," said Kumar. "Over the last six decades, India has not only launched its own satellites, but also put more than 400 satellites of other countries into orbit, demonstrating its capabilities in the field."

Kumar also paid tribute to Dr Vikram Sarabhai, the father of India's space program, for his efforts in positioning India as an early adopter of space technology. "His contributions helped India rejuvenate post independence and created capability in terms of space technology," said Kumar.

The former ISRO chief highlighted the immense opportunity for India's youth to acquire knowledge and skills in the field, as space becomes an increasingly important area with huge economic potential. "India is currently in the process of transforming itself to provide solutions and services to itself and others. This brings opportunity to the youth of the country to develop impactful solutions," he added.

With India's impressive track record in the field and the growth potential of the global space economy, it is clear that the country is well-positioned to make a significant impact in the coming years. The space industry offers a promising future for India's youth and the nation as a whole.

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