Communications, navigation may help India become $44 bn space economy

Apex industry body Indian Space Association expects a large chunk of this growth to come from the communications sector, followed by navigation, earth observation, and satellite manufacturing

India has set an ambitious target of becoming a $44 billion space economy by 2033, from $8 billion currently. It also aspires to capture 8 per cent of the global market, exporting $11 billion of space products. Apex industry body Indian Space Association expects a large chunk of this growth to come from the communications sector, followed by navigation, and earth observation. As the country celebrates National Space Day on Friday, which is also the first anniversary of Chandrayaan III's landing on the South Pole of the moon's surface, Business Standard takes a look at the growth horizon.