Can Space Drive India’s Next Economic Transformation?

Dr. Shaijumon C. S., Associate Professor of Economics, Department of Humanities, Indian Institute of Space Science and Technology (IIST), delivered a lecture on “Can Space Drive India’s Next Economic Transformation?” at MEDHA ’26, the Tech Fest organized by Cochin University of Science and Technology (CUSAT). The lecture brought together more than 100 enthusiastic students from diverse academic disciplines, who actively participated in the session and raised several thoughtful and insightful questions. During the lecture, Dr. Shaijumon discussed the evolution of Space Economics and the Indian Space Economy, highlighting the achievements of the Indian Space Programme and the growing significance of space infrastructure in supporting economic development.

The lecture covered a range of important themes, including:

• Space Economics and the evolution of the Indian Space Economy.
• The evolution and achievements of the Indian Space Programme.
• Space infrastructure as a foundation for economic development.
• The relationship between investments in the space sector and economic growth.
• India’s position in the global space economy.
• Indian Space Policy 2023 and its potential implications for the Indian economy.
• India’s opportunities and potential in the emerging space economy.
• Direct, indirect, and derived economic impacts of the space sector.
• The economic impacts and wider significance of Chandrayaan-3.

Everyone Has a Space in Space

A key message of the lecture was that the space sector extends far beyond rockets, satellites, scientists, and engineers. Dr. Shaijumon emphasized the meaningful contributions that economists, management professionals, social scientists, entrepreneurs, policymakers, and students from diverse disciplines can make in shaping the future of the space economy. “Everyone has a space in space” was highlighted as an important message for students exploring opportunities in the rapidly evolving space sector. Dr. Shaijumon observed that space is no longer only about exploring the universe. It is increasingly associated with creating economic value, enabling innovation, generating employment, strengthening infrastructure, and contributing to societal transformation.

He further emphasized the potential role of the space sector in India’s next economic transition and the importance of people, ideas, innovation, entrepreneurship, and inclusive economic development in shaping the future of the Indian space economy. 

Interaction with Former Colleagues

The programme also provided Dr. Shaijumon an opportunity to meet former colleagues and dear friends, Prof. Honey John, Director, Centre for Nano Science, and Prof. Pramod, Head of the Department of Photonics, CUSAT. He expressed his happiness at reconnecting with them and appreciated the opportunity to engage with the academic community at CUSAT.

Appreciation to the Organizing Team

Dr. Shaijumon expressed his sincere gratitude to Ms. Neethu, Head of Organising, and Mr. Mishal, Manager of the event, for the invitation and for organizing the programme. He appreciated the enthusiasm, participation, and curiosity of the students, which made the session enriching and memorable. He also congratulated the entire organizing team of MEDHA ’26 for successfully conducting the event at CUSAT. The lecture reflects IIST’s commitment to promoting awareness and academic engagement in Space Economics, space policy, and the wider socio-economic dimensions of India’s space programme.

“Everyone has a space in space!”