India's space economy set to reach $40 billion by 2040: Union minister Jitendra Singh

India's space economy is expected to reach USD 40 billion by 2040, with predictions of it potentially reaching USD 100 billion. The country has earned significant revenue from foreign satellite launches, totaling about EUR 230-240 million for launching European satellites and USD 170-180 million for launching American satellites. The establishment of the National Research Foundation will contribute to a significant industry presence in the space sector. India's achievements in space science, including Chandrayaan's detection of the H2O molecule, have positioned the country as a global leader.

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