{"id":257104,"date":"2023-08-23T21:10:45","date_gmt":"2023-08-23T15:40:45","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=257104"},"modified":"2023-08-29T12:04:02","modified_gmt":"2023-08-29T06:34:02","slug":"not-rocket-science-even-as-we-get-closer-to-the-moon-lets-recognise-india-should-be-a-much-bigger-player-in-global-space-economy","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/not-rocket-science-even-as-we-get-closer-to-the-moon-lets-recognise-india-should-be-a-much-bigger-player-in-global-space-economy\/","title":{"rendered":"Not rocket science: Even as we get closer to the Moon, let’s recognise India should be a much bigger player in global space economy"},"content":{"rendered":"\n

Source:<\/strong> The post is based on the article \u201cNot rocket science: Even as we get closer to the Moon, let’s recognise India should be a much bigger player in global space economy\u201d published in \u201cTimes of India\u201d on 23rd August 2023.<\/p>\n

Syllabus:<\/strong> GS3- Science and Tech (awareness in the field of space)<\/p>\n

News:<\/strong> India’s space agency, ISRO, plans to soft land Chandrayaan-3 on the Moon. Despite tight budgets, ISRO consistently delivers advanced science.<\/p>\n

How is ISRO progressing with limited funds?<\/strong><\/h2>\n

Chandrayaan-3 Mission:<\/strong> Despite budget constraints, ISRO plans to soft land Chandrayaan-3 on the Moon.<\/p>\n

Budget Allocation:<\/strong> For 2023-2024, ISRO received \u20b912,544 crore, slightly more than \u20b912,474 crore in 2021-22 but 8% less than 2022-23.<\/p>\n

Collaboration with Private Sector:<\/strong> INSPACe, established in 2020, bridges the gap between ISRO and private space startups, enabling them to utilize ISRO’s technical expertise and infrastructure.<\/p>\n

Satellite Launchers:<\/strong> With technologies like PSLV, GSLV, and SSLV, ISRO launched 431 satellites for 36 countries by July 2023.<\/p>\n

Earnings:<\/strong> By July 2022, ISRO earned $223 million from foreign satellite launches using PSLV.<\/p>\n

What potentials and challenges lie ahead for ISRO?<\/strong><\/h2>\n

Potential:<\/strong><\/p>\n

Global Market Share:<\/strong> India aspires to capture a 9% share of the global space market by 2030.<\/p>\n

Economic Growth:<\/strong> A report indicates the possibility of India’s space economy reaching $100 billion by 2040, substantially higher than the projected $40 billion.<\/p>\n

International Collaborations:<\/strong> Successful missions like Chandrayaan-3 can lead to increased partnerships with other nations.<\/p>\n

Challenges:<\/strong><\/p>\n

Budget Constraints:<\/strong> Recent trends show a decline in budget allocations, with 2023-2024 receiving \u20b912,544 crore, 8% less than the previous year.<\/p>\n

Manpower Issues:<\/strong> ISRO has not expanded its manpower in years and fewer students are pursuing advanced space studies.<\/p>\n

Global Ranking:<\/strong> Despite its achievements, India ranks among the top 15 countries for satellites in orbit, holding only 2% of the global space economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cNot rocket science: Even as we get closer to the Moon, let’s recognise India should be a much bigger player in global space economy\u201d published in \u201cTimes of India\u201d on 23rd August 2023. Syllabus: GS3- Science and Tech (awareness in the field of space) News: India’s space… Continue reading Not rocket science: Even as we get closer to the Moon, let’s recognise India should be a much bigger player in global space economy<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,242],"class_list":["post-257104","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-science-and-technology","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1703524514},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/257104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=257104"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/257104\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=257104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=257104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=257104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}