According to the minister, the move has also allowed public-private partnerships on a larger scale, adding that India's share in the global space economy by 2030 is set to grow four times as compared to 2021.

Chairing a high-level meeting to review the 100-day action plan of the Department of Space, the Minister took stock of the current status of India's space sector, opportunities and future space missions.

ISRO Chairman S. Somnath, his team and senior officials were present in the meeting.

“Space startups have grown from 1 in 2022 to around 200 in 2024, an unprecedented growth of 200 times seen in these years,” Minister Singh said.

Nearly Rs 1,000 crore invested in India's space sector in just eight months in 2023.

Moreover, the industry provides services to around 450 MSMEs, reaffirming the PM's vision of "Sabka Prayas" during the AMRUT period.

Giving more information about the space sector, Dr. Jitendra Singh said that by 2030, India's share in the global space economy is going to increase four times as compared to 2021.

In 2021, the Indian space industry contributed 2 percent to the global share. It is expected to increase to 8 percent by 2030 and 15 percent by 2047.