India aims to boost space sector to $40-45 billion within a decade
Union Minister of State for Space Jitendra Singh said India’s space economy could grow to $40-45 billion in seven to eight years, driven by private capital and faster regulations.
At a media session on “Space, Sovereignty and New Economy” in New Delhi, Union Minister of State for Space Jitendra Singh projected the Indian space economy could reach $40-45 billion within the next seven to eight years, up from about $9 billion today. He said the leap depends on attracting both domestic and foreign private investment, streamlining regulatory approvals, and ensuring predictable commercial demand. Singh urged private companies to move beyond technology demos toward sustainable business models, with government agencies serving as early customers for testing and proof-of-concept projects.
He called for quicker export-license processing, GST reforms that benefit space firms, and tighter integration of the supply chain. The minister highlighted growth opportunities in satellite communications, Earth observation and geospatial services for sectors such as agriculture, disaster management and defence.
Why it matters
The forecast signals a major push for private participation in India's rapidly growing space industry.
In this story
