Tag: space economy

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India Takes Lead in Global Space Economy

The approach aims to position India as a significant player in future space exploration and capacity expansion….reports Asian Lite News

India’s space agency, ISRO (Indian Space Research Organisation), is embarking on a transformative journey to revolutionise its space sector through two key strategies. Firstly, ISRO is enhancing collaborations and partnerships to advance space research and technology, driven by space diplomacy.

This approach aims to position India as a significant player in future space exploration and capacity expansion.

Secondly, ISRO is focusing on increasing efficiency and reducing costs by incorporating private sector involvement, a move facilitated by recent reforms in Indian Space Policy, The Times reported.

ISRO’s expanding international collaborations are a result of its long-standing expertise, efficiency, and the political will to boost the global space economy through effective diplomacy. Since its modest beginnings in 1969, ISRO’s remarkable journey has garnered international respect. Having proven its capabilities with numerous successful missions, ISRO’s global role is a natural progression.

ISRO set to transfer ‘Shwaas’ technology to industries

Currently, ISRO is working on notable projects such as the NASA-ISRO Synthetic Aperture Radar (NISAR), a flagship collaboration with NASA. NISAR aims to map the Earth every 12 days, providing critical data on ecosystems, biomass, sea levels, groundwater, and natural hazards. Another significant project is the TRISHNA (Thermal Infra-Red Imaging Satellite for High-resolution Natural Resource Assessment) mission, a joint venture with France’s CNES. TRISHNA will monitor Earth’s surface temperature and other variables to address water and food security challenges and assess climate change impacts.

According to The Times reports, ISRO is also collaborating with the Japan Aerospace Exploration Agency (JAXA) on the Lunar Polar Exploration Mission (LUPEX), involving both rover and lander development. Additionally, ISRO has established cooperation mechanisms for earth observation, satellite navigation, and other space activities with various countries, including Australia and Israel.

India has agreed to expand space cooperation with Italy by tapping opportunities in earth observation, space science, robotic and human exploration, the state-run Indian space agency said on Thursday. (Twitter)

India’s open space economy policy, introduced through the Indian Space Policy 2023, allows private sector involvement in all aspects of space activities, including satellite communication and launches. This shift is expected to enhance production efficiency, reduce costs, and expand India’s space capabilities.

With over 230 agreements with more than 55 countries and multinational bodies, ISRO is not only advancing its space sector but also shaping global space policies. India aims to grow its space economy to $40 billion by 2040, with international observers suggesting a potential expansion to $100 billion in the next 15 years. Thus, ISRO and its partners are poised to make significant contributions to space exploration and policy development.

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Space Economy: India sets Sights on 5x Growth

The minister said that the role of the private sector in advancing India’s space technology and exploration efforts is undeniable….reports Asian Lite News

After Prime Minister Narendra Modi took the decision to “unlock” the space sector from the “veil of secrecy”, the country is now targeting a five-fold increase in its share of the global space economy, Union Minister of State (Independent Charge) for Science and Technology, Jitendra Singh, said on Tuesday.

After launching the Technical Centre of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) in Ahmedabad, the minister said that the role of the private sector in advancing India’s space technology and exploration efforts is undeniable.

“PM Modi has broken taboos of the past by opening the space sector to public-private-participation,” said the minister.

“India’s space economy today stands at a modest $8 billion, but our own projection is that by 2040, it will multiply manifold. According to some international observers, for example the recent ADL (Arthur D Little) Report mentions that we could have the potential of $100 billion by 2040,” he added.

Even though talent was never lacking in the country, the missing link of enabling milieu was created under the leadership of PM Modi.

“With the opening up of the space sector, the common man has been able to witness the launch of mega space events like Chandrayaan-3 or Aditya,” the minister further said.

“Four-five years ago, the country barely had startups in the space sector. Today, we have nearly 200 private space startups after opening up of the sector while the earlier ones have even turned entrepreneurs. There has been an investment of over Rs 1,000 crore by private space startups in the current financial year from April to December 2023,” the minister informed.

This is the best time for innovators, R&D and startups in the space sector.

“If you see the space budget alone, there is a 142 per cent increase in the last nine years,” the minister said.

Out of the 424 foreign satellites launched by ISRO since the 1990s, more than 90 per cent or 389 were launched in the last nine years. The government has announced the Indian Space Policy 2023, which enables end-to-end participation of non-governmental entities (NGEs) in all domains of space activities.

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India’s space economy is poised to reach USD 40 billion by 2040

The minister said that the next significant development in the Indian space programme will be the Gaganyaan human spaceflight mission…reports Asian Lite News

India’s space economy is poised to reach USD 40 billion by 2040, and scientists will also enjoy a better working environment, Union Minister Jitendra Singh said.

The Minister of State for Science and Technology & Atomic Energy and Space (Independent Charge) said that some foreign agencies like the AKD have predicted that this figure could even go up to USD 100 billion by 2040.

“At present, our space economy is not very impressive, as we have just about USD 8 million. But we are moving in quantum jumps, and in the foreign satellite launch alone, we have earned about EUR 230–240 million for launching European satellites and about USD 170-180 million for launching American satellites,” Singh said.

He was speaking after inaugurating the 60thanniversary celebrations of ISRO’s rocket launch.

Singh said that with the establishment of the National Research Foundation, Anu Sandhan, a better model of similar foundations existing in US, a significant industry presence could be established. “With this, more than 70 per cent of our space resources are going to come from the non-government sector. So, this is also going to supplement our resources,” the minister said.

Agreeing with the fact that India did face a resource crunch in its space sector, he said, “We could tide it over with the great scientific acumen we have.” “We could even overtake other countries with that. Although they were the first to land a human on the Moon, Chandrayaan was the first to detect the H2O molecule,” the minister said. He said the ‘courageous’ decision of the political dispensation to open up the space sector to private players has been a game-changer. “This has supplemented our resources both fund-wise and knowledge-wise,” Singh added.

He said the opening up of the sector also helped popularise the concept of space science in the country. “The entire nation got involved in Chandrayaan. It was like the whole of science plus, the whole of the government plus, the whole of the nation,” Singh said.

The minister said that the next significant development in the Indian space programme will be the Gaganyaan human spaceflight mission, for which one of the trial flight test has already happened. He said by 2025, India would be sending a man to space and bringing him back safely. “Two to three months before it, we will have a female robot going to space, which could mimic all the actions of an astronaut,” the minister added.

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