Space sector adds $60 billion

The Indian space sector has contributed $60 billion to the country’s GDP in the past 10 years, creating 4.7 million jobs in the country, a report said.

The report showed that India has invested about $13 billion in the space sector in recent years. Through direct and indirect benefits, the sector has contributed $60 billion to the national GDP, according to the Indian news channel NDTV.

Space Minister Jitendra Singh released the report, prepared by global consultancy Novaspace, commissioned by the Indian Space Research Organisation (ISRO), on the occasion of National Space Day. The report showed that India is the eighth largest space nation in the world in terms of funding.