Description

Overview

This is the first research of its sort to attempt to quantify the scale of the country's space economy. Researchers from the Indian Institute of Space Science and Technology (IIST) and the Centre for Development Studies(CDS) undertook this investigation. The findings were published in a study titled 'India's Space Economy, its Size and Structure.'

Results of the research

The experts have proposed a number of Rs 36,794 crore for the fiscal year 2020-21. The country's predicted space economy size as a percentage of GDP has fallen from 0.26 percent in 2011-12 to 0.19 percent in 2020-21. In 2020-21, space applications accounted for Rs 27061 crore, or 73.57 percent of the total economy. It is followed by space operations (Rs 8218.82 crore or 22.31 percent) and manufacturing (Rs 1515.59 crore or 4.12 percent). The Indian space economy contributes for around 0.23 percent of the country's GDP (over 2011-12 to 2020-21). The budget allocation for 2020-21 was Rs 9,500 crore, compared to Rs 13,033.2 crore in the previous fiscal. From Rs 43,397 crore in 2018-19 to Rs 36,794 crore in 2020-21 and Rs 39,802 crore in 2019-20, the size of the space economy has dropped to Rs 36,794 crore in 2020-21 and Rs 39,802 crore in 2019-20.

The space budget, as a proportion of GDP, fell to 0.05 percent in 2011-12 from 0.09 percent in 2000-01 and has been stable since then. When compared to the GDP, India spends more on space than Germany, China, Japan, and Italy, but less than Russia and the United States.

What sources did the writers use to perform this study?

The writers drew on Parliamentary records, Indian Space Research Organization (ISRO) statistics, intellectual property rights data, Comptroller and Auditor General (CAG) reports, and other government data, as well as Scopus-indexed space publications.

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