Singh underlined the exponential growth of the space startup sector, which escalated from a single entity in 2019 to over 190 presently, attracting private investments exceeding Rs 1,000 crores.
India’s Minister of Science and Technology, Jitendra Singh, highlighted a seismic shift in the past 4-5 years in India’s space exploration prowess. “Our scientists possess talent, capability, and passion, previously hindered by the lack of conducive political support. Since Prime Minister Narendra Modi’s tenure, a monumental transformation has been witnessed,” Singh remarked at the Agenda Aaj Tak 2023 event. He went on to talk about the increasing investments from private avenues as well as increased revenue generated from launching satellites for other countries like the United States and Russia.
Private investments and earnings from launching satellite launches for other countries
Singh underlined the exponential growth of the space startup sector, which escalated from a single entity in 2019 to over 190 presently, attracting private investments exceeding Rs 1,000 crores. Singh drew comparisons with NASA, highlighting that half of NASA’s resources come from private companies, emphasising India’s progress in private space launches.
“In 2019, there was only one space startup, and now it has grown to 190. More than Rs 1,000 crores have been invested in the space industry. We used to confine ourselves with self-imposed restrictions, comparing ourselves to NASA. But we forget that half of NASA’s resources come from private companies. Today, American and Russian satellites are being launched from our end,” he said.
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The minister stressed the omnipresence of space technology in everyday life, touching on fields like digital health, ownership programs, rocket launching, and infrastructure development.
According to Singh, ISRO has launched approximately 430 foreign satellites for many countries using its commercial divisions. These nations include Australia, Brazil, France, Israel, Japan, Malaysia, Singapore, the United Kingdom, and the USA. “The revenue generated from these satellite launches amounts to roughly 290 million euros (Rs 2,635 crore) from European satellites and over $170 million (Rs 1,417 crore) from American satellites,” Singh said.
Forthcoming missions
Singh shed light on forthcoming missions, stating that the postponed Gaganyaan mission is set to send a humanoid robot into space in early 2025, followed by the launch of India’s first astronaut into space by mid-2025.
Looking further ahead, Singh discussed the comprehensive lunar exploration mission ‘Chandrayaan’ and the ambitious ‘Deep Sea Mission’ slated for 2047, emphasising India’s abundant oceanic resources that remain largely untapped.
Addressing the potential of India’s maritime economy, Singh highlighted plans to extract minerals from the Indian Ocean through missions like the Himalaya and Samudrayaan, projecting a colossal economic growth potential of $100 billion by 2040.
