A recent study by the Indian Space Research Organisation (ISRO) has shown that for every rupee invested in space activities, the Indian economy gets back about Rs 2.5. ISRO Chairman S Somanath shared these findings during a talk with students of the Karnataka Residential Educational Institutions Society, explaining how ISRO aims to benefit society through its missions rather than competing globally. “Going to the Moon is a costly affair,” he said, explaining that ISRO cannot rely solely on government funds and must create business opportunities to sustain its work. “If you have to sustain it, you have to create use for it. Otherwise, after we do something, the government will tell you to close down,” he said.

Study shows economic impact of ISRO

The study, named Socio-Economic Impact Analysis of the Indian Space Programme, was conducted by ISRO with help from a European consulting group called Novaspace. The study looked at how much India’s space programme has helped the economy over the past 10 years. The report, shared by Union Space Minister Jitendra Singh on National Space Day, showed that from 2014 to 2024, India’s space sector added about $60 billion to the country’s GDP. In simpler terms, for every dollar made by the space program, the Indian economy gained an additional $2.54.

India’s space sector now brings in about $6.3 billion each year, making it the eighth biggest in the world. This growth has created many jobs, around 4.7 million in total. Out of these, about 96,000 jobs are in both government and private companies.

ISRO’s efficient use of funds

ISRO has accomplished all this with a much smaller budget. Each year, ISRO spends around $1.6 billion, which is much less than NASA’s $25 billion budget. In fact, all of ISRO’s spending over the last 55 years is still less than what NASA spends in a single year. Despite these money limitations, India’s space programme has made big progress. Part of this success comes from India’s private companies, which are helping the space sector grow. There are now over 400 Indian companies working on space projects, a big increase from only 54 companies in 2020.

How India’s space programme benefits society

ISRO’s work has made a real difference in people’s daily lives. For example, it helps about 800,000 fishermen every day by using satellite information to show them where to find fish. ISRO’s weather satellites also provide forecasts that reach over 1.4 billion people across India, helping with everything from farming to daily planning. Additionally, India’s spy satellites can capture very clear images, which are important for the country’s security and for responding to natural disasters.

ISRO has accomplished impressive things in space exploration. India became the first country to successfully enter the orbits of both the Moon and Mars on its first try. Recently, the Chandrayaan-3 mission achieved another milestone by gently landing near the Moon’s south pole, an area that is still mostly unknown. In 2024, India also launched the Aditya L-1 mission, which is studying the sun and giving us important information about solar activities.

India has big goals for the future of its space sector. It hopes to capture 10% of the world’s space market over the next 10 years. Right now, India’s space economy is worth around Rs 6,700 crore (about $8.4 billion). ISRO’s ongoing work could help this amount grow even more. The global space market is predicted to reach $13 billion by 2025, and India’s contributions will be important in this growth.