In the next three years, the size of India's space economy will reach $ 1,280 million, or about Rs 1.05 lakh crore. The launch of a large number of satellites and the participation of the private sector will play an important role in this. This claim was made by the Indian Space Association and Ernst & Young in their report 'Environment for Space in India: Inclusive Progress in India' on Monday.
The size of the Indian space economy was estimated at $900 million in the year 2020. According to the report, the demand for satellites is increasing continuously. Their manufacturing in India will be accelerated. Also, global companies and start-ups will be attracted here, which will help companies looking to work in the space sector.
Indian business in core areas of space in 2025
Satellite Services: $4600 million
Earth Services: $400 million
Satellite manufacturing: $320 million
Launch Services: $100 million
Helpful steps of the government
The report said that the steps taken by the government to launch space missions from India are becoming helpful. Private companies are also getting a boost.
Launch services in 2020 were worth $600 million, which is projected to grow at 13 percent annually. Factors such as cheap launches and availability of satellites, large-scale production, etc. will bring consumers to India on the global stage.
This is the reason why private companies are keeping a special eye on this area and are focusing on innovation.
Roots growing from space park
Setting up Space Parks in the country is helping private companies to establish their roots. Several companies are working on technologies related to sending satellites into Lower Earth Orbit (LEO - altitude from 160 to 2000 km above Earth), Medium Earth Orbit (MEO - altitude from 2000 to 35786 km), and Geostationary Equatorial Orbit (GEO - altitude above 35786). are working.
It is worth mentioning that at present around 100 startups are working in the space sector in India.
Earthquake: Earth shook again in Himachal, tremors felt at many places; Kinnaur's Sangla center
Earthquake tremors have been felt in many other areas including Kinnaur in Himachal. The earthqua
Indians Praised in US: One percent Indians pay 6% of the total tax collection of America, MP praised
American MP Rick McCormick has praised the people of the Indian community settled in America. He
Air pollution in the country's capital Delhi has reached dangerous levels. The fog along with pol
India's second match in the T20 World Cup will be against the Netherlands on Thursday. The match
Weather Update: The weather remains dry in most of the states of the country. Due to the rapid dr
Former India captain Virat Kohli, who has convinced the audience with his performance on the cric
After three phases, Prime Minister Narendra Modi will now heat the atmosphere by campai
A mass firing incident took place at Walmart in Virginia, USA on Tuesday. There is news of 10 peo
A tragic incident occurred in Piplodi village of Jhalawar district of Rajasthan on Friday morning
Light rain in Delhi-NCR, now cold will knock; Schools closed after IMD alert in Tamil Nadu
The weather pattern seems to be changing once again in the national capital Delhi. The sky remain
