By 2040, India’s space economy might reach $40 billion, with better working conditions for scientists. The country’s space economy is $8 million. Since Anu Sandhan founded the National Research Foundation, about 70% of space resources will come from non-government sources…
Union Minister Jitendra Singh claimed India’s space industry will reach $40 billion by 2040 and scientists will have a better working environment. The Minister of State for Science and Technology & Atomic Energy and Space (Independent Charge) noted that overseas institutions like the AKD have anticipated this sum might reach USD 100 billion by 2040. India’s space economy is “not very impressive” with USD 8 million, he claimed.
“But we are moving in quantum jumps, and in the foreign satellite launch alone, we have earned about EUR 230–240 million for launching European satellites and about USD 170-180 million for launching American satellites,” Singh said Saturday (November 25) after inaugurating ISRO’s rocket launch’s 60th anniversary celebrations in Thiruvananthapuram.
Singh believed that the National Research Foundation, Anu Sandhan, a better model of US foundations, might boost industry presence.
This means non-government organizations will provide over 70% of our space resources. This will boost our resources, the minister stated.
Jitendra Singh on resource shortage
The Minister admitted that India had a space sector resource shortage but said it could overcome it with its “great scientific acumen we have”.
“We may surpass other nations with that. The Minister stated Chandrayaan detected the H2O molecule first, even though they landed a human on the Moon first.
He praised Narendra Modi’s ‘courageous’ decision to open the space sector to commercial firms as a “game-changer”.
“This has supplemented our resources both fund-wise and knowledge-wise,” Singh said. He added that the sector’s liberalization popularized space science in the country.
Nationwide involvement in Chandrayaan. Science, government, and nation were involved “Singh remarked.
Future plan
He said Gaganyaan would be the next big Indian space expedition. ISRO successfully completed a tribal flight test.
He stated India would safely return a man from space by 2025.
“Two to three months before it, we will have a female robot going to space, which could mimic all the actions of an astronaut,” he said.
Conclusion
Union Minister Jitendra Singh expects India’s space economy to reach USD 40 billion by 2040, with scientists benefiting from a better working environment. By 2040, foreign agencies like the AKD expect this sum to reach $100 billion. Indian space economy is roughly USD 8 million, but European and American satellite launches earn EUR 230-240 million and USD 170-180 million, respectively. Singh stated that the National Research Foundation, Anu Sandhan, might build a substantial industry presence, with over 70% of space resources coming from non-government sources.
Singh noted India’s space sector resource need and complimented Prime Minister Narendra Modi’s call to privatize it. He called the sector’s opening a “game-changer” that has increased India’s financial and knowledge resources. This sector opening has helped popularized space science in the country.
Singh said the Gaganyaan human spaceflight mission would be the next big Indian space program advancement. ISRO completed a successful flight test, and India hopes to send a man to space and return him safely by 2025. A female robot might imitate astronauts two to three months before the mission.
