A collaboration between two premier research and educational institutions in Thiruvananthapuram has shed interesting light on India’s “space economy”, the exact contours of which have remained largely vague even as the country’s space programme grew by leaps and bounds.
In a first-of-its kind attempt at measuring the size of India's space economy, researchers from the Centre for Development Studies (CDS) and the Indian Institute of Space Science and Technology (IIST) arrived at a figure of ₹36,794 crore (approximately $5 billion) for the 2020-21 fiscal. The estimated size of India's space economy, as a percentage of the GDP, has slipped from 0.26% in 2011-12 to 0.19% in 2020-21, they found.
The findings, outlined in a paper 'The Space Economy of India: Its Size and Structure' by CDS director Sunil Mani; V. K. Dadhwal, till recently Director of IIST; and Shaijumon C. S., Associate Professor of Economics, IIST, were the subject of a webinar on Saturday.
