NOIDA: There were only four space startups in India in 2014 and that number has increased to more than 150 in 2023, Union Minister Jitendra Singh said here Monday, noting that currently, the country’s space economy is valued at USD 8 billion and estimated to reach $40 billion by 2040.
“In 2014, the country had 350 startups but today we have more than 1.25 lakh startups and 130 unicorns. Of the 1.25 lakh startups, 6,000 are in the unicorn sector itself which has transformed the landscape of innovation in the country,” Singh said while inaugurating the S20 Conference under the aegis of G20 at Amity University.
“There were only four space startups in the country in 2014 whereas in 2023, there are more than 150 startups. Our Space economy is currently at USD 8 billion and estimated to reach USD 40 billion by 2040,” the minister added.