• Over 70% of India's space resources will come from the non-government sector.
• India's space achievements, such as the detection of the H2O molecule on the Moon, have positioned the country as a global leader.
• The opening up of the space sector to private players has been a game-changer, supplementing resources and popularizing space science in the country.

India's space economy is poised to reach $40 billion by 2040, according to Union Minister Jitendra Singh. The country has made significant strides in space technology, including launching satellites and developing advanced spacecraft. The government is investing heavily in the space sector, and private companies are also playing an increasingly important role.

Revolutionizing Space Economics:

Singh expressed confidence in India's space sector's transformative journey, citing predictions by foreign agencies, including AKD, that estimate the space economy could surge to USD 100 billion by 2040.

Contributions from Foreign Satellite Launchs:

Highlighting India's progress, Singh noted significant earnings from foreign satellite launches. The nation earned about EUR 230-240 million for launching European satellites and USD 170-180 million for launching American satellites.

Role of the National Research Foundation:

Singh emphasized the role of the National Research Foundation, envisioning a substantial industry presence and over 70% of space resources sourced from the non-government sector.

Resource Crunch and Scientific Acumen:

Acknowledging past resource challenges, Singh praised India's scientific acumen for overcoming obstacles and achieving significant milestones in space exploration.

Private Sector Participation:

Singh credited the decision to open up the space sector to private players as a game-changer, providing both financial and knowledge resources to supplement the government's efforts.

Gaganyaan Human Spaceflight Mission:

Singh highlighted the Gaganyaan human spaceflight mission as the next significant development, with a trial flight test already conducted. India aims to send a man to space by 2025, with a female robot mimicking astronaut actions preceding the mission.