Team Blitz India
NEW DELHI: India’s space economy is estimated to soar to $40 billion by 2040, Union Minister Jitendra Singh, overseeing Science and Technology shared these projections.
Singh highlighted India’s current space economy, valued at around $8 million. This figure pales in comparison to the anticipated growth. He emphasised India’s significant strides in foreign satellite launches. Revenue from launching European satellites amounted to Euro 230-240 million. Launches for American satellites brought in around $170-180 million.
Jitendra was speaking at the 60th anniversary of ISRO’s rocket launch event. He discussed the transformative role of the National Research Foundation, AnuSandhan. This establishment aims to mirror successful models from the US.
“More than 70% of our space resources are going to come from the non-government sector. So, this is also going to supplement our resources,” PTI quoted the minister as saying.
