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Detailed explanation-1: -Indian space economy is set to reach $13 billion by 2025, according to a joint report prepared by EY and the Indian Space Association (ISpA), an apex industry association of space and satellite companies in the country.

Detailed explanation-2: -The Indian Space Association (ISpA) and Ernst & Young released a report estimating that India’s space industry will be valued roughly at US$ 13 billion by 2025, with the satellite launch services market expected to develop at the quickest rate due to rising private engagement.

Detailed explanation-3: -18 January 2023: EY, the leading professional services organization, today announced its growth projection for India that estimates Indian economy will reach GDP size of US$26 trillion (in market exchange terms) by 2047, the 100th year of the country’s independence.

Detailed explanation-4: -The Space Economy report. Credit: Euroconsult. According to the annual report by Euroconsult on the global space economy, the value reached an all time high of US$424 billion, a 14.1% increase over the previous year.

Detailed explanation-5: -The space economy in India is set to grow to US$13b by 2025 at a CAGR of 6%. Space-based communication will be one of the primary mechanisms to narrow the digital divide in India.