India’s space economy is expected to reach $40 billion by 2040 and scientists will also enjoy a better working environment, Union Minister Jitendra Singh said here. The Minister of State for Science and Technology and Atomic Energy and Space (Independent Charge) said that some foreign agencies such as the AKD have predicted that this figure could even reach $100 billion by 2040.
“Right now our space economy is not very impressive as we only have about $8 million. But we are moving forward in quantum leaps, and just from the launch of foreign satellites we have earned about 230 to 240 million euros for the launch of European satellites. and about $170-180 million for US satellite launches,” Singh said. He was speaking to PTI after inaugurating the 60th anniversary celebrations of ISRO’s rocket launch here on Saturday.
Singh said that with the establishment of the National Research Foundation, Anu Sandhan, a better model of similar foundations existing in the US, a significant industry presence could be established.
“This will bring more than 70 percent of our space resources from the non-governmental sector. So this will also replenish our resources,” the minister said.
Agreeing that India was facing resource scarcity in its space sector, he said, “We could overcome this with the great scientific understanding that we have.” “With this we could even overtake other countries. While they were the first to land a man on the moon, Chandrayaan was the first to discover the H2O molecule,” he said. He said the political dispensation’s “brave” decision to open the space sector to private players has been a game-changer. “This has replenished our resources both in terms of funds and knowledge,” Singh added. He said the opening up of the sector has also helped popularize the concept of space science in the country. “The entire nation got involved in Chandrayaan. It was like the entire science plus, the entire government plus, the entire nation,” Singh said.
The minister said the next major development in India’s space program will be the Gaganyaan space mission, for which a test flight has already taken place.
He said that by 2025, India would send a man to space and bring him back safely. “Two to three months before that, we will launch a female robot into space, which could mimic all the actions of an astronaut,” the minister added.
