India is set to go high in space and tech field according to Indian Space Association report

India is well known for the power of space and with that, it is investing in this sector rigorously. Reports and data published from different bodies of India and international bodies predict India’s position with a hike. The same is with the report published by the Indian Space Association.

Indian Space Association in its recently published report said that India’s space economy is likely to be worth nearly $13 billion by 2025. Satellite launch services will witness the biggest jump according to the report. This statement came in a report that was published on Monday. With every passing day demand for smaller satellites is increasing, which is going to give a big push to national and international startups that would work in this sector.

According to the data, India was making $9.6 billion in 2020 and is expected to touch $12.8 billion by 2025, according to the report titled ‘Developing the Space Ecosystem in India: Focusing on Inclusive Growth. Government assistance in this field is going to be instrumental for those who want to work in this emerging sector. As soon as India starts emerging as a hub of mass production of satellite industries from all across the world will come forth to demand as per their need. This won’t only bring private investors but also a hike in the Indian economy.

“It will be key to attracting global start-ups working in the space sector and help to incubate space tech companies in India,” the report added.