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India has set goals to strengthen its space presence by 2047, aligned with the nation's broader Visit Bharat mission.
In an interview with Bloomberg, India’s Space Minister Jitendra Singh announced plans to build a national space station by 2035 and achieve a human moon-landing by 2047.
Where we stand: India’s commercial space sector today accounts for only 2% of the global market at $8.4 billion. The target is to expand this to 8-10% and reach a $45 billion valuation.
What is the plan: the country now plans to bring more private players into a sector that was once tightly controlled. Just last month, the Centre unveiled a ₹1 lakh crore Research, Development and Innovation Scheme to accelerate deep-tech progress through concessional funding.
This scheme will back projects that are already tested enough to be close to market launch classified as Technology Readiness Level 4 or above.
Meanwhile, ISRO is gearing up for its first crewed mission in 2027, ushering in a new era in India’s space exploration journey.
Big picture: India’s rockets are already trusted globally as reliable launch platforms. Now, the country wants to move beyond its cost-effective image and be recognised as a leading space power on par with the US, China, and Russia.
Press information Bureau
