Friday, February 23rd, 2024

India’s Space Economy | India’s space economy set to reach US$40 billion by 2040: Union Minister Jitendra Singh Presswire18 (Presswire18)

India’s Space


Thiruvananthapuram: Union Minister Jitendra Singh said that India’s space economy is poised to reach US $ 40 billion by 2040. He also said that this will provide better working environment to the scientists also. Minister of State for Science and Technology and Atomic Energy and Space (Independent Charge) said that some foreign agencies like AKD have estimated that this figure could reach beyond US $ 100 billion by 2040.

Speaking to a news agency, Singh said that at present our space economy is not very impressive. Currently it is only about 80 lakh US dollars. However, we are moving very fast in foreign satellite launches alone… We have earned about 23 to 24 crore Euros from the launch of European satellites and about 17 to 18 US dollars from the launch of American satellites.

Speaking after inaugurating the 60th rocket launch anniversary celebrations of the Indian Space Research Organization (ISRO) here on Saturday, Singh said a significant presence in the industry can be established with the setting up of the ‘Anushandhan National Research Foundation’. Agreeing with the fact that India faced resource constraints in its space sector, he said “we can deal with it with the scientific skills we have.”

The minister said that by 2025, India will send a person to space and bring him back safely. He said, “Two to three months before this, we will have a female robot going to space, which can imitate all the activities of the astronaut.”(Agency)

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