India is preparing its own space station, the government has prepared this mega plan!
The government has prepared a roadmap to establish its own space station by 2035 and send humans to the Moon by 2040. Private companies, along with ISRO, will be "game changers" in this mission. A fund of ₹1 lakh crore has been announced to expand the space economy to $45 billion.
India's space economy: India is now poised to demonstrate its economic and technological prowess not only on Earth but also among the stars.
The government has outlined a highly ambitious space sector roadmap, which will directly impact the country's economy and global standing.
Within the next decade, India will not only build its own space station, but will also set foot on the lunar surface. This is all part of a larger plan that aims to make India a developed nation by 2047.
The most interesting aspect of this entire exercise is that the government agency ISRO will no longer be alone in the space race; rather, private companies and startups will play the role of "game changers."
The picture will change with the participation of the private sector
In a recent media interview, Union Space Minister Jitendra Singh clarified that India's space economy is poised for a major leap forward.
He explained that while the sector was entirely under government control, its economic growth was very limited. However, once it was opened to the private sector, it grew to nearly $8 billion.
India's space economy will grow rapidly
The government estimates that at this rapid pace, India's space economy could reach $40 to $45 billion in the next eight to ten years.
The biggest contributor to this will be the more than 400 space startups, which are no longer just dreaming but are also making their mark in complex tasks like building satellites, launching them, and analyzing space data.
ISRO Chairman S. Somanathan has previously stated that India aims to increase its share of the global commercial space market from 2% to 8-10% over the next decade.
Will have its own space station by 2035
According to the plan, India will have its own "Indian Space Station" by 2035. Exactly five years later, by 2040, an Indian astronaut will land on the lunar surface.
Prime Minister Narendra Modi has clearly directed India not to lag behind countries like China in this race. China already has its own space station and is preparing to send humans to the Moon by 2030. In this context, India has increased its pace.
India already surprised the world by landing a robotic spacecraft near the Moon's south pole in 2023. Now, news has emerged that ISRO is also on track to launch its first manned space mission (Gaganyaan) in early 2027.
₹1 lakh crore for innovation
PM Modi has placed increasing investment in the deep-technology sector at the top of his priority list. Just last month, the government announced a massive ₹1 lakh crore (approximately $11.1 billion) scheme to promote research, development, and innovation. This fund aims to provide financial support to projects that are at "Technology Readiness Level 4" or above.