Will have its own space station by 2035
India space economy: India is now ready to prove its economic and technological strength not only on the ground but also among the stars. The government has prepared a very ambitious blueprint for the space sector, which will have a direct impact on the country’s economy and global credibility. Within the next decade, India will not only build its own space station, but will also set foot on the lunar surface. All this is part of the bigger plan, under which the target has been set to make India a developed nation by 2047. The most interesting aspect of this entire exercise is that now the government agency ISRO will not be alone in the space race, but the country’s private companies and startups will play the role of ‘game changer’ in it.
The picture will change with the participation of private sector
Union Space Department Minister Jitendra Singh recently clarified in an interview to the media that India’s space economy is now ready to take a big leap. He said that as long as this area was completely in the hands of the government, its economy was very limited. But as soon as it was opened to the private sector, it increased to about $8 billion.
India’s space economy will grow rapidly
The government estimates that with the rapid development taking place, India’s space economy can reach 40 to 45 billion dollars in the next 8 to 10 years. The biggest contribution in this will be from those more than 400 space startups, who are no longer just dreaming, but are making their mark in complex tasks like building satellites, launching them and analyzing space data. ISRO Chairman S. Somnath has also said earlier that India aims to increase its share in the global commercial space market from 2% to 8-10% in the next decade.
Will have its own space station by 2035
According to the plan, India will have its own ‘Indian Space Station’ by the year 2035. Exactly five years after this, i.e. by 2040, an Indian astronaut will land on the surface of the moon. Prime Minister Narendra Modi has given clear instructions that India should not lag behind in this race with countries like China. China already has its own space station and is preparing to send humans to the moon by 2030. In such a situation, India has increased its pace. India had already surprised the world by landing a robotic spacecraft near the south pole of the Moon in 2023. Now the news is that ISRO is also on its way to launch its first manned space mission (Gaganyaan) in early 2027.
Rs 1 lakh crore for innovation
PM Modi Deep-technology sector It has kept increasing investment at the top of its priority list. Only last month, the government has announced a huge scheme of Rs 1 lakh crore (about 11.1 billion dollars) to promote research, development and innovation. The objective of this fund is to provide financial assistance to projects which are at ‘Technology Readiness Level 4’ or above.
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