Is India Ready to Increase Its Stake in the Global Space Economy?

New Delhi, Sep 8 (NationPress) India is set to enhance its share in the global space economy from the current 2 percent to approximately 8 percent over the next decade, as revealed in a recent report published on Monday.

The report, issued by KPMG in collaboration with CII during the ‘International Conference on Space 2025’, highlighted that India’s space economy is on the brink of significant transformation.

This sector is witnessing a paradigm shift, moving from an innovation-led frontier to the mainstream integration of space-based services across governance, development, and strategic areas.

According to the report, with the global space economy projected to grow from $596 billion in 2024 to $1.8 trillion by 2035, India’s contribution is anticipated to increase fourfold, rising from the current 2 percent to nearly 8 percent over the upcoming decade.

The report emphasizes how space-based assets, including services and data derived from Earth Observation (EO), Satellite Communication (SatCom), and Navigation (PNT) technologies, are becoming crucial enablers for governance, economic growth, and security by integrating into national workflows. This progress is propelling India towards a service-oriented space economy.

“India is at a crucial point in its space journey. The foundations established over decades are now paving the way for significant growth, integration, and global leadership,” remarked Gaurav Mehndiratta, Partner and National Head - Aerospace, Defence and Space, KPMG in India.

“To harness this potential, coordinated efforts across policy, industry, and academia are essential to stimulate innovation, construct resilient infrastructure, and connect space capabilities with various user communities,” Mehndiratta added.

The report also identifies Digital Public Infrastructure (DPI) as a vital enabler, facilitating seamless connectivity between space-based data and governance platforms, financial ecosystems, and diverse user applications.

It underscores the significance of platform interoperability and SatCom-based redundancy to guarantee service continuity in remote and disaster-prone areas. These priorities are crucial for scaling up adoption and ensuring EO, SatCom, and PNT become standard across flagship missions and public service delivery.

Downstream services are increasingly central to governance, resilience, and strategic operations, with EO and SatCom bolstering flagship missions such as PM Gati Shakti and Ayushman Bharat.

Strategic segments like defence, disaster response, and governance set the standard for mission-grade applications, while international collaboration positions India as both a contributor and regional enabler.

“India’s downstream space ecosystem is evolving into a foundational pillar of national development. By incorporating space-based services into core governance and strategic workflows, and aligning policy with mission needs, India is ready to expand its global share and influence the future landscape of the international space economy,” the report concluded.