Will the Private Sector Propel the Indian Space Economy to $45 Billion in the Next Decade?
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Synopsis
The Indian space economy is on track to reach an impressive $45 billion within the next decade, driven by private sector innovations and government reforms. Minister Jitendra Singh highlights the significant contributions of startups and ambitious future space missions, positioning space as a critical component of India's economic growth.
Key Takeaways
- The Indian space economy is set to grow to $45 billion in the next decade.
- The growth is predominantly driven by private sector investments.
- India has around 400 active space startups.
- Future goals include establishing a space station by 2035.
- 70% of space applications focus on enhancing everyday life for citizens.
New Delhi, Nov 18 (NationPress) The Indian space economy is projected to escalate to $45 billion within the next decade, primarily fueled by private enterprises, according to Jitendra Singh, Minister of State for Science and Technology and the Department of Space.
Singh praised the government's recent reforms in space policy, asserting that with the shift towards private investment, the economy has reached approximately $8 billion as reported by various media sources.
“Currently, the Indian space economy stands at $8 billion, and given its rapid advancement, the forecast suggests it may rise to between $44-$45 billion in the next ten years,” Singh stated.
He highlighted that this target is largely expected to be met by India’s burgeoning space startups, which number around 400 and are engaged in diverse sectors, including satellite manufacturing, launch services, and space-based data analytics.
The Minister also shared India’s ambitious space goals, such as establishing the Bharatiya Antariksh Station by 2035 and sending an Indian astronaut to the Moon by 2040.
Last month, during the 4th India International Space Conclave (IISC) 2025 in New Delhi, Singh emphasized that space will play a critical role in driving India’s economic growth.
“The space reforms implemented over the last five years have marked a significant turnaround. Previously, our space economy was fragmented and not regarded as a significant economic component,” Singh remarked.
“In the future, space is set to become a pivotal element in the growth of India's economy as we ascend the global ranks. Approximately 70% of our space-driven applications aim to enhance the quality of life for the average citizen, a focus that is often overlooked by many countries actively involved in the space sector,” the Minister concluded.
Point of View
The growth of the Indian space economy is not just a technological advancement but also a testament to the power of private sector innovation. As the government continues to support this sector, it is essential to ensure that the benefits reach all citizens, enhancing their quality of life while positioning India as a global leader in space exploration.
NationPress
13/12/2025
Frequently Asked Questions
What is the current size of the Indian space economy?
As of now, the Indian space economy stands at approximately $8 billion.
What are the future projections for the Indian space economy?
The Indian space economy is projected to grow to around $45 billion in the next decade.
How many space startups are currently operating in India?
There are about 400 space startups currently working in various sectors across India.
What are some key future projects in the Indian space sector?
India aims to establish the Bharatiya Antariksh Station by 2035 and send an Indian astronaut to the Moon by 2040.
How is the private sector contributing to this growth?
The private sector is driving innovation and investment, helping to increase the economy's size and scope significantly.
