Budget announcements for Space sector have futuristic vision: Dr Jitendra
STATE TIMES NEWS
NEW DELHI: Union Minister, Dr. Jitendra Singh said here on Saturday that the announcements in the Budget 2024-25 relating to the Space sector have a futuristic vision.
In a recent interview with Rajeev Deshpande, Editor of Open magazine, Dr. Jitendra Singh, credited Prime Minister Narendra Modi for breaking the long-standing self-imposed secrecy surrounding India’s space programs, which had historically stifled progress due to lack of resources and knowledge despite abundant talent.
Dr. Singh hailed the 2023 New Space Policy as a landmark development, noting that it marked the first time the private sector was granted significant access to ISRO’s activities. He highlighted the establishment of In-SPACe in 2020 as a crucial step in facilitating collaboration between government and private entities. The creation of New Space India Limited to produce and assemble launch vehicles further underscores this shift.
The Minister observed a surge in enthusiasm and innovation within the sector, noting that India went from having just one startup in the space industry in 2021 to nearly 300 today. Startups like AgniKul Cosmos, which has set up a private launchpad at ISRO’s premises, and Skyroot, which achieved the first private sub-orbital launch, exemplify the sector’s growth. This vibrant ecosystem is attracting global attention, with companies like SpaceX engaging with Indian firms.
Dr. Singh projected that the space economy would expand fivefold in the next decade, reaching around $44 billion, supported by recent investments of Rs. 1000 crore. He emphasized that these developments not only create employment opportunities domestically but also offer exciting prospects for startups.
Looking ahead, Dr. Singh mentioned upcoming ISRO missions, including the Gaganyaan mission, which aims to send an Indian human into space by late 2025. The planned Indian Space Station by 2035 and the potential for an Indian moon landing by 2040 represent further milestones in India’s space exploration endeavors.
