Correct option is D
The correct answer is (d) USD 13 billion
According to the report by Indian Space Association (ISpA) and Ernst & Young (EY), India's space economy is projected to be worth approximately USD 13 billion by 2025.
This projection is based on the growth rate of various sectors within the space economy, including satellite services, space applications, launch services, and ground services.
The report emphasizes the role of the private sector, which is expected to contribute significantly to the space economy's growth, alongside government efforts to foster space innovation and policy reforms.
Information Booster:
The growth of India's space economy is supported by the National Space Policy 2020 and the increasing involvement of private players in satellite manufacturing, launch services, and space-based applications.
India's SpaceX-like private companies are entering the market, which will enhance launch capacity and contribute to the country's global space ambitions.
The space economy includes sectors like satellite communications, remote sensing, space research, and space tourism, which are expanding rapidly in India.
Additional Information:
India's Space Program: India has been active in space exploration through the Indian Space Research Organisation (ISRO), known for its successful missions such as Chandrayaan, Mangalyaan, and Gaganyaan.
Private Sector Participation: The Indian private sector is expected to play a key role in the development of launch vehicles and satellite technologies, alongside the public sector (ISRO).
The space economy is expected to reach USD 13 billion by 2025, with major contributions from sectors like satellite services, manufacturing, and launch services.
