India Eyeing in Space Economy
India Eyeing in Space Economy After achieving two consecutive successful space missions to the Moon and Sun with Chandrayaan-3 and Aditya-L1, India is eyeing a significant share of the growing space economy in the coming years. Currently, India has a 2% share in the global aerospace economy, which is expected to reach around US$ 447 billion in 2020, lagging behind major players such as China and the US. However, this approach is poised for transformation, as top officials in the space department recently emphasized. They cited recent achievements in space exploration, including the aforementioned missions, India's inaugural manned spacecraft, Gaganyaan, scheduled for a trial launch in early October. Internal forecasts predict that India's current aerospace economy, valued at US$8 billion, will grow to US$40 billion by 2040. Notably, ADL, a leading global consulting firm, has estimated that India's aerospace economy could reach USD 100 billion by 2040. , bolstered by ...