New Delhi, Sept. 15 -- India's space economy is projected to expand more than five-fold to Rs 4.22 lakh crore (USD 44 billion) by 2033 from Rs 0.81 lakh crore (USD 8.4 billion), with commercialisation, private investment and wider adoption of space-enabled applications expected to drive the next phase of growth, according to a joint EY-Confederation of Indian Industry (CII) report.

The report, titled 'From Escape Velocity to Value: Innovate, Govern and Grow', said India's space growth will increasingly depend on converting space capabilities into commercial services, industrial capacity, strategic resilience and economy-wide impact, ANI reported.

200+ Space Applications Identified

The report identified more than 200 use cases across Ea...