New Delhi says its space industry is projected to grow to $44 billion by 2033

The Indian Space Research Organization (ISRO) aims to triple its annual spacecraft production over the next three years, its chairman has said.

New Delhi is planning seven more launches in the current financial year, ISRO Chairman V Narayanantoldthe Press Trust of India (PTI) in an interview on Sunday.

India has been focusing on a strategy of rapidly scaling up scientific, technological, and industrial capacity in the space sector. ISRO aims to increase the global share of the country's space industry from the current 2% to 8% by 2030.

The industry, now valued at $8.2 billion, isprojectedto reach $44 billion by 2033.

ISRO's upcoming launches also include a commercial communication satellite. Narayanan said the organization is targeting a significant milestone with a satellite launch vehicle manufactured entirely domestically.

The government has approved the Chandrayaan-4 moon mission for a 2028 launch, he added. It will be India's most complex venture, aiming to bring back samples from the moon. Currently, only the US, Russia, and China have this capability.

The ISRO targets to complete work on its space station by 2035. The first of the five modules for the space station will be placed in orbit by 2028, according to Narayanan.

The US-led International Space Station (ISS) is nearing the end of its program, and China's Tiangong is moving into full operation.

The ISRO chief clarified that only the timeline for its uncrewed spaceflight mission has been shifted. "Let me make it clear: the uncrewed mission was targeted for 2025. The crewed mission was always planned for 2027, and we are holding on to that date," he said.

Prime Minister Narendra Modi has directed ISRO to by 2040 work towards sending Indian astronauts to the moon and bringing them back safely, Narayanan said.

India's joint lunar polar exploration program with Japan's Aerospace Exploration Agency (JAXA) aims to conduct studies at the lunar South Pole, he added.

(RT.com)