New Delhi, June 19 -- India's space economy is expected to expand five-fold to USD 45 billion over the next eight to ten years, while the country's biotechnology sector has grown to USD 193 billion from USD 10 billion in 2014, Union Minister Jitendra Singh said, highlighting the government's push to build technology-led growth engines.

In an interview with ANI, Singh said India's space sector has emerged as one of the country's fastest-growing industries.

"Our space economy was next to nothing. Today, it's around USD 9 billion, and it's accelerating at such a rapid pace that it appears we will reach USD 45 billion in the next eight to ten years," he said.

The minister also pointed to the rapid expansion of the biotechnology sector, att...