India's space sector is on a trajectory of rapid growth, Science & Technology Minister Dr Jitendra Singh announced and added that the nation's space economy, currently valued at a modest $8 billion, is projected to reach an impressive $40 billion by 2040

Science & Technology Minister Dr Jitendra Singh on Wednesday said that India will launch Vyommitra, a female robot astronaut to space ahead of the manned mission.

He was speaking at the Aaj Tak Agenda.

ISRO's ambitious Gaganyaan project is set to demonstrate India's capability in human spaceflight. Before the manned mission, a test flight carrying 'Vyommitra,' a female robot astronaut, is scheduled for next year. Additionally, the Deep Sea Mission project, expected to be realised within three years, will explore deep-sea resources, showcasing India's prowess not only in outer space but also in the ocean's depths.

India's space sector is on a trajectory of rapid growth, Dr Singh announced and added that the nation's space economy, currently valued at a modest $8 billion, is projected to reach an impressive $40 billion by 2040.

This projection aligns with international observers' even more optimistic potential of $100 billion, as cited in the Arthur D. Little (ADL) Report. He emphasised the significant strides made in attracting private investment to space start-ups, which have collectively raised over Rs. 1,000 crore since April of this financial year.

The minister credited Prime Minister Narendra Modi's reforms for the exponential increase in the number of space start-ups in India. From just one start-up in 2014, the country now boasts 190 space start-ups, with some already evolving into profitable enterprises. This surge in entrepreneurial activity in the space sector is a testament to the government's commitment to fostering innovation and private participation.

ISRO, India's premier space agency, has been instrumental in earning foreign revenue through satellite launches. To date, it has launched over 430 foreign satellites, generating substantial income—more than 290 million Euros from European satellites and over 170 million US Dollars from American satellites.

Dr. Singh also highlighted the cost-effectiveness of India's space missions, drawing a comparison between the expensive Russian moon mission and India's Chandrayaan-3 mission, which was accomplished at a fraction of the cost. He attributed this efficiency to India's rich human resources and skills.

The Chandrayaan-3 mission made a historic discovery of water molecules on the moon's surface, a feat that had eluded even earlier missions by the USA and Soviet Union.

The Union Minister pointed out that space technology in India is not just about exploration but also about practical applications that touch everyday lives. It plays a crucial role in various sectors, including disaster management, infrastructure development, agriculture, telemedicine, and robotic surgery.

In a nod to gender inclusivity in the space sector, Dr. Singh acknowledged the leadership roles women are now taking on in major space projects, such as the Aditya L1 Mission and Chandrayaan-3.