India’s space economy is projected to surge to $40 billion by 2040, according to Union Minister Jitendra Singh. He highlighted India’s advancements in foreign satellite launches, generating revenue of EUR 230-240 million from European satellites and $170-180 million from American satellites.
Singh mentioned India’s current space economy, valued at approximately $8 million, underscoring the substantial growth anticipated. He emphasized the transformative role of the National Research Foundation, Anu Sandhan, in mirroring successful models from the US.
The minister acknowledged challenges in the space sector but expressed confidence in India’s scientific expertise. He outlined ambitious goals for the Indian space program, including the Gaganyaan human spaceflight mission.
With inputs from PTI
